Dubai – Mubasher: Majid Al Futtaim Holding, the Middle East operator of French retailer Carrefour, revealed plans to boost its footprint in a slew of eastern and southern African countries, according to Bloomberg.
The franchise will open new branches in five African markets over the coming four years, Franck Moreau, country manager of Carrefour Kenya, said, adding that the group also seeks to open two more stores in Kenya and a least one new market in East Africa by the end of this year.
The Dubai-based retail giant is also looking at buying an existing entity in South Africa, Moreau noted.
“If we enter there [South Africa, which has the continent’s most developed retail market], it will not be by creation, it might be by acquisition,” Moreau said.
It is worth noting that Majid Al Futtaim is operating in 15 countries across the world and forayed into the Kenyan market in 2016.
