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Notes From Africa: Majid Al Futtaim, Naivas, Baladna, ArtCaffé

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Notes From Africa: Majid Al Futtaim, Naivas, Baladna, ArtCaffé

Here’s the latest in ESM’s regular series, Notes From Africa, which brings you the latest retail, consumer goods, and food-and-beverage stories from across the African continent. Past editions can be found here.

Egypt: Majid Al Futtaim To Invest $796m In Egypt

Majid Al Futtaim, the operator of the Carrefour brand in markets across the Middle East, Africa, and Asia, aims to invest $796 million in Egypt by 2030 to expand its presence in the country. These investments will involve the extension and renovation of several existing shopping and entertainment centers, as well as the construction of new outlets.

Within this framework, the number of Carrefour stores is set to reach 130 across 25 Egyptian cities by 2025, while the number of Supeco stores is set to rise to 144 by 2030.

Angola: $2.2 Billion Fertiliser Plant To Be Developed

In Angola, Amufert, a joint venture between the private investment group Opaia and the state-owned hydrocarbon company Sonangol, plans to inject $2.2 billion into the construction of a fertiliser plant in Soyo.

The project is expected to start in January 2024 and is anticipated to take three years. Once operational, the new plant should be able to produce 1.2 million tonnes of fertilisers, including urea. It is also expected to contribute to the creation of over 3,500 jobs.

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Kenya: Naivas Hits 100-Store Milestone

Kenyan retailer Naivas opened its 100th store in the country. This new Nairobi-based outlet enables the company to further strengthen its presence. Naivas, founded in 1990 in Nakuru, has accelerated its expansion in the past five years, defending market leadership against Carrefour and Quickmart.

The company, which employs 5,000 people, expects to close this year with 2 additional stores added to its network.

Cameroon: Poultry Farm To Be Constructed In Bamendjou

A large-scale poultry farm is currently under construction in the municipality of Bamendjou in western Cameroon. The project, costing a total of 3 billion FCFA ($4.8 million), is being promoted by a Cameroonian operator. It comprises two production buildings with an initial cumulative capacity of 80,000 layers.

The farm will also eventually be equipped with a feed production line to make it self-sufficient. There will also be an egg production unit and a modern 40,000-head chick hatchery to supply local farmers.

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Egypt: Qatari Group Baladna To Invest In Dairy Project

The Suez Canal Authority signed a memorandum of understanding with the Qatari agrifood group Baladna for the implementation of a $1.5 billion investment project in the Egyptian dairy industry.

The project includes the installation and development of a dairy farm with a capacity of housing 20,000 head of cows at its start-up stage, with a view to producing 300 million litres of milk a year. The project also includes the development of a 113,000-hectare farm in the New Valley governorate in the South-west of the country.

Kenya: ArtCaffé Expands Network

Coffee chain ArtCaffé, a leading restaurant and bakery chain in Kenya, has opened its 38th branch in Eastleigh, a suburb located on the east side of Nairobi Central Business District. Located in the recently opened Business Bay Square mall, the store brings the total number of branches by ArtCaffé to 47 countrywide, including nine food kiosks.

This investment comes at a time when Kenya has seen an increasing number of visits to coffee shops fuelled by the expanding middle class that spends on luxury. The company is racing against Java House, the market leader.

Article by Espoir Olodo

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