Deals
Carrefour Franchisee on Prowl for Acquisitions to Grow in Africa
- Majid Al Futtaim mulls entry into in eastern, southern Africa
- Operator of French retailer’s stores to boost Kenya presence
Photographer: Bertrand Guay/AFP via Getty Images
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Majid Al Futtaim Holding LLC, an operator of French retailer Carrefour SA outlets, plans to boost its presence in Kenya as it looks to expand into eastern and southern Africa.
Growing the franchise in Africa will boost competition for the likes of Shoprite Holdings Ltd., the continent’s biggest grocer, and Walmart Inc.’s Massmart Holdings Ltd. Those companies are looking to develop outside their home markets in South Africa, where stagnant economic growth is curbing consumer spending.