· Shoprite, South Africa’s super market chain has announced its decision to exit Uganda by the end of the year.
· The six stores located in Acacia Mall, Village Mall, Victoria Mall, Lugogo Mall, Clock Tower, and Arena Mall operated by Shoprite will be taken over by Carrefour, owned by the French multinational retailer.
Shoprite, South Africa’s super market chain has announced its decision to exit Uganda by the end of the year. The six stores located in Acacia Mall, Village Mall, Victoria Mall, Lugogo Mall, Clock Tower, and Arena Mall operated by Shoprite will be taken over by Carrefour, owned by the French multinational retailer. The takeover will boost the regional presence of Carrefour. The franchise is held by Dubai-based multinational Majid Al Futtaim. Under the lease transfer agreement, Shoprite Checkers Uganda Limited’s stores and moveable assets will be taken over by Carrefour.
Hani Weiss, the chief executive of Majid Al Futtaim Retail, said in a statement said that the company welcomed the opportunity in Uganda of bringing Carrefour offering of value, range, and international standards to more customers across Uganda. The deal he said also reflected their growing investment interest in East African region offering local employment and career development opportunities. Majid Al Futtaim already operates two Carrefour-branded stores in Uganda. With the takeover of Shoprite, its number of stores will be eight.
Shoprite had earlier closed its stores in Kenya. Its exit from Uganda following the closure in Kenya is part of its strategy to scale down its operations outside South Africa.
