Africa & Middle East news & analysis

09 September 2014
Kenya-based Uchumi has announced full year results for its 2014 financial year saying that sales rose 0.6% to KES14.5 billion (US$160.8 million). The retailer said that its sales performance had been negatively affected by its operations in Uganda and a wider slowdown in economic growth in East Africa. Uganda holds back sales growth By market, Uchumi said that sales growth advanced quickest i...
01 September 2014
South Africa-based Pick n Pay has launched Brand Match, a price comparison mechanic that will see it compare prices on 1,000 branded products. The announcement comes after rivals published results that suggested the market is becoming ever more competitive as shoppers remained under pressure in the face of difficult economic conditions. Offer to compare 1,000 branded products Pick n Pay’s B...
29 August 2014
As Al Maya, Mars International, Panda and others announce expansion plans in the region, we round up the news. Panda reveals regional expansion plans Saudi-Arabia-based, Savola-owned Panda has announced regional expansion plans that will see it grow its presence in UAE, where it operates one store, and enter the new market of Egypt. Panda’s chief executive, Muwaffaq M Jamal, said the retail...
29 August 2014
Saudi-Arabia-based, Savola-owned Panda has announced regional expansion plans that will see it grow its presence in UAE, where it operates one store, and enter the new market of Egypt. If Panda does hit its target it will increase competition across the Middle East and add a third leading regional competitor, alongside UAE-based Majid Al Futtaim and EMKE-owned LuLu. Investment to focus on UAE ...
26 August 2014
As Kenya-based Nakumatt reveals plans for an IPO, Fruit & Veg City expands into Swaziland, South Africa’s Shoprite, Pick n Pay and Woolworths makes strategic moves across the continent, we round-up news from Africa. Nakumatt plans for IPO to fund further expansion Kenya-based Nakumatt has announced plans to list a 20% to 25% stake on the Nairobi stock exchange in the next five years, follow...
18 August 2014
Turkish discount retailer BIM has released its half year results, reporting a 23.6% increase in net sales to TRY 7bn (€2.4bn) and a 12.7% rise in like-for-like sales. Net income for the half rose by 3.9% to TRY 197.5m (€67.9m), although in Q2 this dropped by 3.3% to TRY 92.8m (€31.9m). Rapid store opening programme continues in Turkey Store growth in Turkey continued at pace, with 344 store...
14 August 2014
Walmart’s consolidated net sales increased by 2.8% for Q2 FY15 (three months ended 31 July), to $119.3bn, with sales in its US stores and Sam’s Club divisions up 2.7% and 2.3% respectively. International sales were up 3.1% to $33.9bn. Consolidated net income attributable to Walmart grew by 0.6%. The results: quick take Although there is still work to be done to drive stronger growth in t...
13 August 2014
With Nakumatt officially opening of three new stores in Tanzania and espousing the benefits of its private label, Pick n Pay boosting the benefits of its Smart Shopper programme for Absa’s clients and Kenya-based Vivo Energy looking to grow its convenience store presence, we round-up news from Africa. Nakumatt reopens first ex-Shoprite store in Tanzania Kenya-based Nakumatt has announced th...
12 August 2014
South Africa-based SPAR Group is set to acquire an 80% stake in Ireland-based BWG Group for €55 million. BWG has operations in Ireland, where it owns the SPAR brand, and southwest England, servicing more than 1,100 stores, of which 100 are company owned, and generates a turnover of approximately €1.2 billion. Acquisition adds global angle to SPAR (South Africa)’s operations… The purchase o...
07 August 2014
As Saudi Arabia-based Savola, which operates the Panda retail chain in the country, appoints a new chief executive, His Excellency Eng. Abdulla Mohammed Noor Rehaimi, following the resignation of Dr Abdulraouf Mohammed Mannaa, we review the retailer’s short term strategic initiatives. Panda, Saudi Arabia’s largest grocery retailer, ended its 2013 financial year with sales up 7.6% to SAR10.9 bi...