Dubai-based retail company Majid Al Futtaim has announced plans to open 100 new Carrefour stores across Egypt.
The group, which is the exclusive franchise owner of the Carrefour brand in 38 markets across the Middle East, Africa and Asia, signed an agreement with Egypt's Ministry of Investment and International Cooperation for these expansion plans.
“This agreement is in line with Majid Al Futtaim’s commitment towards the socio-economic development of Egypt, and subsequently fulfils the government’s vision," said Abdalla El Nockrashy, head of Majid Al Futtaim in Egypt.
Majid Al Futtaim already has 37 Carrefour stores in operation in Egypt, having first entered the market in 2002.
The group says that it is "committed to providing the largest range of high-quality products at competitive prices", in an effort to combat rising food inflation in Egypt, and places a strong emphasis on sourcing products from local suppliers.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.