Majid Al Futtaim, the parent company for Carrefour, has inked a lease deal with Shoprite Checkers Uganda Limited (Shoprite Uganda) to acquire Shoprite’s six stores in the country. Majid Al Futtaim currently operates two stores in Uganda, under the banner of Carrefour. Following the implementation...

The mall saw a decline in its fortunes in 2020 after anchor tenant Shoprite terminated their 10-year lease agreement in July after less than a year at the mall. The South African supermarket chain exited not only Waterfront mall but the Kenyan market at large, closing stores at City Mall Nyali, Westgate Mall and Garden City Mall.

The retailer's strategy outside South Africa has not worked as planned as espoused by the fact that it exited the Nigerian market in August this year 15 years after setting up the most populous country in Africa

This is the second branch the retailer is closing in less than five months

South African retail chain says it has declined some sites as it feel rentals are too high, adding landlords are having a field day playing each off against each other

A strategy to buy into local retailers or take up space left by financially stressed locally retailers have worked for the foreigners, according to analysts