Money and Markets
Shoprite brand to Carrefour
Carrefour, owned and operated by UAE investor Majid Al Futtaim in Uganda has announced the temporary closure of all Shoprite stores by 1st of October 2021 in preparation for the reopening under the Carrefour brand.
Under the lease transfer agreement, Shoprite Checkers Uganda Limited’s stores and moveable assets will be taken over by Carrefour, making it by far the largest retailer in the country. The transaction will also expand the regional presence of Carrefour, whose franchise currently operates 16 hypermarkets in Kenya, and two stores in the Oasis and Metroplex malls in Kampala, Uganda.
Founded in 1992, the Carrefour franchise in Uganda is operated by the United Arab Emirates-based Majid Al Futtaim Group, which describes itself as one of the leading retailers across the Middle East, Africa and Asia. It operates 53 Carrefour stores in Egypt and over 300 stores in at least 15 other countries.
This is following Majid Al Futtaim’s recent agreement with Shoprite Checkers Uganda Limited to take over six of their store leases by the end of the year.
Earlier this month, Majid Al Futtaim, concluded an agreement with Shoprite Checkers Uganda Limited to transfer Shoprite’s six Uganda store leases to Majid Al Futtaim by the end of the year. The six stores are located in Acacia Mall, Village Mall, Victoria Mall, Lugogo Mall, Clock Tower, and Arena Mall.
Franck Moreau, Country Manager of Carrefour Uganda, and Kenya said, “As we kick off our much-anticipated transition of the Shoprite brand to Carrefour, we will close all Shoprite stores, to revamp them and set up our signature Carrefour sections such as the popular bakery to offer our customers the best shopping experience through unbeatable value and range.”
“In the meantime, we would like to invite our customers to visit our existing stores at Oasis Mall and Naalya – Metroplex Mall to shop for their favourite items. For greater convenience, customers can also order products online via Glovo and Jumia Food,” he added.