Africa & Middle East news & analysis

29 May 2013
France-based Carrefour has announced that it has signed a memorandum of understanding with CFAO that will enable the latter to take the Carrefour brand into eight countries in West and Central Africa. Joint venture to aid expansion of Carrefour brand The two companies said that the joint venture will be owned 55% by CFAO and 45% by Carrefour . The joint venture company will benefit from excl...
28 May 2013
Soon after purchasing Carrefour’s stake in its joint venture, UAE-based Majid Al Futtaim has announced plans to invest up to US$1 billion in 2013 to expand its presence across the region. Outlay to fund expansion in Middle East Iyad Malas, Majid Al Futtaim’s chief executive, was quoted by Reuters as saying: “ Our capital investments could be anywhere between $600 million and $1 billion this ...
28 May 2013
Kenya-based Nakumatt has stated it will invest nearly KES1.4 billion (€12.5 million) to expand its store base. Retailer remains ‘optimistic’ about retail’s growth The company’s managing director, Atul Shah, said that Nakumatt is ‘ optimistic that the retail sector will this year make a very significant contribution to the economy largely due to the prevailing growth oriented economic environm...
23 May 2013
Carrefour has announced that it has sold its 25% stake in its Middle Eastern joint venture to its partner in the region, Majid Al Futtaim (MAF), for €530 million. Sale includes ‘strengthening of exclusive partnership’ Carrefour said that at the same time as the sale of its stake in the joint venture, the two companies were also strengthening the existing exclusive franchise partnership by ‘...
22 May 2013
Abu Dhabi’s government has announced plans to upgrade independent stores under the ‘Baqala’ brand name. Step ‘in tune with Abu Dhabi’s Development Vision for 2030’ The new law will require independents to make their stores more appealing and shopper-friendly. It will specifically involve them adding security systems, cash registers, cooler boxes, clearly displayed prices, storage rooms, overh...
22 May 2013
SPAR International has reported worldwide retail sales up 2.8% in 2012, and revealed its new strategy: "Growing our future together." International expansion has always been a strategic goal SPAR's new strategy builds on its long-term objectives. It sets out the strategic objectives for 2013-2015 under three broad headings: Growing our partners - Developing a multi-format presenc...
22 May 2013
Speaking at the company’s AGM, Massmart’s chief executive, Grant Pattison, discussed its recent sales performance and strategic decisions up until now. Total sales up 9.8% Pattison said that in the first 21 weeks of the 2013 financial year Massmart’s total sales rose 9.8%, while comparable sales were up by 5.6%. The retailer’s total sales growth was driven by its Masswarehouse and Massdiscoun...
20 May 2013
Tesco has confirmed that it will work with two of the world's leading franchise operators to open over fifty F&F branded clothing stores outside of the UK. F&F to expand into nine new markets over next five years Over the the next five years Tesco and its partners will open F&F branded clothing stores across the Middle East, Kazakhstan, Georgia, Armenia and Azerbaijan. The deal sees the UK'...
16 May 2013
Walmart's total net sales for the first quarter increased by 1.0% to $113.4bn, with growth led by its international division, where sales increased by 2.9%. In the US, Sam's Club delivered a 0.5% increase in sales (ex-fuel), while at its core US stores operation sales grew 0.3%.  Comp store sales at its US stores declined by 1.4% (ex-fuel). Operating income over the period increased by...
15 May 2013
@WalmartLabs has made two further acquisitions, OneOps and Tasty Labs, to boost its capabilities in platform and cloud development and social integration. Adding technology and talent through acquisition These latest acquisitions represent a continuation of @WalmartLabs’ strategy to build its team by strategically adding technology and talent through key acquisitions. The acquisition of One...