Shoprite unfazed after losing Junction mall
After losing out in the race to clinch Junction mall, Shoprite has insisted it still plans to enter the Kenyan market.
The South Africa grocer was beaten to the premier shopping space by French retailer, Carrefour, run by franchise holder Majid Al Futtaim Holding which replaced Nakumatt at the location.
Reuters reported that Shoprite Holdings chief executive Pieter Engelbrecht said on Tuesday that they will expand into Kenya to take advantage of the growing east African economy.
“We have not changed our focus to say we’re not looking at the continent anymore. We have grabbed that opportunity, we’re going to Kenya,” Mr. Engelbrecht said.
In the region, Shoprite is also buying back the outlets replacing Nakumatt in Acacia Mall Uganda and plans to take over the other two establishments.
In a game of dancing chairs, Nakumatt had acquired stores in Uganda and Tanzania from Shoprite which was exiting the East African region a few years ago.
