South Africa’s largest grocery retailer Shoprite Holdings recently announced it was withdrawing from Uganda and Madagascar.
The announcement sent shock waves to Ugandans who are associated with the brand, living many in suspense with lots of jobs at stake.
Shoprite’s exit however according to sources will be done in a phased manner.
The chain store is to be taken over by Majid Al Futtaim – the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia .
The franchise holders have officially announced they have concluded an agreement with Shoprite Checkers Uganda Limited i.e. Shoprite Uganda.
The terms of the agreement will see the transfer of Shoprite’s six Uganda store leased to Majid Al Futtaim by end of year.
Majid Al Futtaim currently operates two stores in Uganda, under the banner of Carrefour. Following the implementation of the agreement, Majid Al Futtaim will expand its footprint to eight Carrefour stores.
“We welcome the opportunity to bring our unique Carrefour offering of unbeatable value, range, international standards to more customers across Uganda”, commented Hani Weiss, CEO at Majid Al Futtaim Retail.
“Majid Al Futtaim is fully committed to creating great moments for the communities we serve for the long-term. This agreement represents our continued investment in East Africa. We look forward to strengthening our offering in the region and supporting local talent through employment and career development opportunities.”
Majid Al Futtaim launched its first Carrefour store in Uganda in December 2019 in Kampala’s Oasis Mall, and in March 2021 opened its second store in Naalya.