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Retail: Carrefour plans to open its first store in Uganda

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Friday, 12 October 2018

Retail: Carrefour plans to open its first store in Uganda

Carrefour, the French retail giant, will start operating in Uganda in just over three months’ time. The group has just launched its advertising campaign, with posters announcing the opening of its first retail store in Kampala in January 2019. The chain will open its store in the Mall Oasis shopping centre, the same building that once housed the Kenyan Nakumatt supermarket, now in serious financial difficulty. Quoted this morning by our colleagues at the Daily Monitor, several sources familiar with the case confirmed that, “the company will initially operate a single store before expanding to other shopping centres”. The group’s management, however, has not yet released any statements on the subject. The teams of the African Alliance investment bank in Kigali believe that, “Carrefour’s decision to set up [in Uganda] is both a plus for Ugandan shoppers, who will have more choice, and a strong signal of the country’s growth prospects”. Many analysts, however, point out that the French operator comes at a time when a number of large retail stores have failed in a market that largely relies on small neighbourhood shops. The recent closures of retailers Nakumatt and Uchumi in Uganda – both from Kenya – illustrate this difficulty.

Source: financialafrik.com