Carrefour, a supermarket chain owned by UAE-based Majid Al Futtaim, has confirmed that it will take over Shoprite’s stake in Uganda.
In a statement, Carrefou said it will take over Shoprite’s six stores at Acacia Mall, Village Mall, Victoria Mall, Lugogo Mall, Clock Tower, and Arena Mall.
“We welcome the opportunity to bring our unique Carrefour offering of unbeatable value, range, international standards to more customers across Uganda,” Hani Weiss, the chief executive of Majid Al Futtaim Retail, said.
“This agreement represents our continued investment in East Africa. We look forward to strengthening our offering in the region and supporting local talent through employment and career development opportunities,” he added.
Shoprite last month confirmed that it was exiting the Ugandan market, citing financial challenges.
In May, this website reported that Carrefour was in talks with Shoprite, with a view to acquiring the latter’s stake in Uganda.
The transaction will further expand the regional presence of Carrefour
Under the lease transfer agreement, Shoprite Checkers Uganda Limited’s stores and moveable assets will be taken over by Carrefour.
Carrefour opened its first outlet in Uganda in 2019, and currently operates over 130 hypermarkets, supermarkets, and online stores in 15 countries across the region, with plans to extend into 38 countries in the Middle East, Central Asia, Africa and Russia.