The six stores are located in Acacia Mall, Village Mall, Victoria Mall, Lugogo Mall, Clock Tower, and Arena Mall.The transaction will further expand the regional presence of Carrefour whose franchise is held by Dubai-based multinational Majid Al Futtaim.
Under the lease transfer agreement, Shoprite Checkers Uganda Limited’s stores and moveable assets will be taken over by Carrefour.
“We welcome the opportunity to bring our unique Carrefour offering of unbeatable value, range, international standards to more customers across Uganda,” Hani Weiss, the chief executive of Majid Al Futtaim Retail, said in a statement.
“This agreement represents our continued investment in East Africa. We look forward to strengthening our offering in the region and supporting local talent through employment and career development opportunities.”
Shoprite’s impending exit from Uganda follows the recent closure of its stores in Kenya, with the multinational scaling down its operations outside South Africa.
Majid Al Futtaim currently operates two Carrefour-branded stores in Uganda and the agreement with Shoprite will raise its operations in that market to eight branches.
The parties said they will work to ensure a smooth transition of the stores and operations.
Carrefour has also been expanding in the Kenyan market where it is now one of the major retailers alongside Naivas.