ESM is proud to launch a new weekly series, Notes From Africa, which will bring you the latest retail, consumer goods and food and beverage stories from across the African continent. Past editions can be found here.
In this week's report:
Cameroon: Carrefour to Open Fourth Store
French retailer Carrefour is set to open its fourth outlet in Cameroon before the end of year. This new store will be the third in the economic capital, Douala. The project is a part of the company’s strategy to strengthen its footprint in Sub-Saharan Africa, where the retail market is expected to grow in the coming decade, driven by a booming middle class.
According to local media, Carrefour’s new outlet will be deployed in partnership with CFAO, a front-rank distributor focused on Africa and French Overseas Territories. Carrefour entered in Cameroon in 2017 with the launch of its first store in Bonamoussadi, a suburb of Douala.
Kenya: Naivas To Launch New Outlets In Expansion Spree
Kenyan supermarket chain Naivas is planning to launch two more stores next week (commencing 23 November), as part of its continued expansion drive. According to local media reports, the outlet will offer a range of FMCG products, fresh vegetables as well as packaged foods.
With this project, Naivas aims to expand its influence in a very competitive retail market. With two more stores, Naivas’s branch network will reach 68 in Kenya, with the retailer aiming to reach 70 stores before the end of the year.
Botswana: Choppies Resumes Trading On Johannesbourg Stock Exchange
Botswana-based discount retailer Choppies resumed trading on Johannesburg Stock Exchange (JSE) last Friday. The company was excluded from the exchange for 24 months after failing to provide financial statements.
Local media said Choppies has finally published its audited financial results for the years ending 30 June 2020 and 30 June 2019, as well as its interim results for the year ended December 2019. The company has operations in Botswana, Namibia, Zambia and Zimbabwe.
Kenya: Twiga Foods Establishes Employee Share Ownership Programme
Kenyan food retailer Twiga has launched an employee share ownership plan (ESOP) to attract and retain top talent for future growth. Through the scheme, the company's workforce will acquire 10% of its estimated future exit value over the next four years.
“This programme aligns with the company’s long held view of creating value for multiple stakeholders – the farmers we work with, our customers, our employees, who are critical in bringing everything together, and the government, which creates a conducive environment that allows companies like ourselves to operate”, said Peter Njonjo, Twiga Foods' chief executive.
Nambia: Namibia Breweries Sees 14.6% Decline In Revenue In 2020
Namibia Breweries Limited (NBL), one of the leading beverage manufacturing companies in Southern Africa, has reported a 15 % year-on-year decline in group revenue to N$2.6 billion (€142 million) in its financial year ended 30 June 2020.
The company attributed this drop to lower sales across its division due to lockdown and alcohol prohibition measures implemented to contain the spread of the COVID-19. In Namibia, volume declined by 14.6% where as it tumbled by more than 22.9% in South Africa. NBL was established in 1920 and its strategic partners included Diageo and Heineken.
Eswatini: Black Mamba Foods Secures €500,000 For Expansion
Black Mamba Foods, an Eswatini-based food maker, has raised R9.2 million (€500,000) through Enyma Ventures, an US-based venture capital (VC) fund. The company aims to use the fund to expand its existing operations in manufacturing a range of products such as chutneys, pastes and chilli sauces without artificial flavours or preservatives. Black Mamba Foods employs a total of 50 workers and posted a revenue of $1.5 million (€1.3 million) in 2019.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Espoir Olodo. Click subscribe to sign up to ESM: The European Supermarket Magazine.