Egypt: Carrefour and its partner to launch new hypermarkets for an investment of $ 12.6 million
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Denys Bédarride
Wednesday 9 September 2020 Last update on Wednesday, September 9, 2020 At 9:18 AM

The Emirati group Majid Al Futtaim, a partner of the French retail giant Carrefour in Egypt, will launch new hypermarkets by the end of 2020. This initiative will see an investment of $ 12.6 million and will increase the number of its stores under the Carrefour banner to 63.

Emirati conglomerate Majid Al Futtaim (MAF), exclusive owner of the Carrefour franchise in Egypt, recently announced that it would inject 200 million Egyptian pounds ($ 12.6 million) into the opening of new stores in the country until the end of this year.

According to Jean-Luc Graziato, store manager at the MAF conglomerate, this investment will concern the cities of Cairo and Alexandria and will bring the total of Carrefour hypermarkets to 63 by the end of this year.

Source Ecofin Agency