QUICKMART

Retail chain Carrefour will open its first Central Business District Branch (CBD) branch in Nairobi, seeking to compete with already established brands such as Naivas and Quickmart.

The Majid Al Futtaim, the owner of Carrefour’s franchise in Kenya, said that the new store will be opened by December 2022.

It seeks to grab the lucrative CBD market, allowing the firm to grow its networks as well as market base.

“Additionally, plans are underway to open one more supermarket by the end of the year in Nairobi CBD,” the store said in a statement.

CBD store will push the company’s total stores to 19-countrywide, after opening an outlet in Kilimani and Valley Arcade branches in mid-2022.

ALSO READ: Tanzania Exports it’s First Consignment of Processed Cashew Nuts to the US

Currently, Nairobi is home to 14 Carrefour supermarkets and hypermarkets spread across the city’s malls. They include the Hub, the Village Market, Galleria Shopping Mall, the Sarit Centre, the Junction Mall, Thika Road Mall, Two Rivers Mall and Southfields Mall.

Other are located in United Mall and Mega Plaza in Kisumu and City Mall and Center Point Mall in Nyali and Diani respectively.

Ahead of Christmas, it announced a 50 per cent discount on a wide variety of products such as electronics, cleaning and household products, clothing, outdoor, among others, until November 30.

ADVERTISEMENT. SCROLL TO CONTINUE READING.

“Every year, our customers enjoy unbeatable discounts on their favourite items and this year is no exception,” Majid Al Futtaim East Africa Regional Director Franck Moreau.

“And, our commitment to them remains unchanged: to offer the highest quality at the lowest possible price in our stores,” he added.

SOURCE: Capital business

A two-kilo of sugar has risen by Sh 12 at a time when the country is facing a 34 per cent decline in cane production.

In leading retail stores such as Naivas and Quickmart, a 2-Kg Packet of sugar has gone up from Sh300 last week to Sh312 currently.

The rise in prices comes at a time when the country’s sugar production in August dipped 34 per cent compared to the previous month, attributed to immature canes and the just concluded general elections.

Data from the Sugar Directorate showed that total production dropped to 46459 tonnes in August from 70278 tonnes in July.

The directors attributed the drop to factory maintenance at Soin, OlePito, and Soin, as well as the re-opening of the Chemelil and Nzoia plants.

ALSO READ: Airtel Completes Separation of its Mobile Money business from Telecommunications

Over the last few months, prices of basic household items such as cooking oil, and flour, among others, have been rising, as inflation hit a record high of 9.2% in September from 8.5% in August.

Kenya Bureau of statistics (KNBS) attributed the rise to an increase in the cost of food, and fuel as well as the depreciation of the Kenyan shilling against the dollar.

Efforts to stabilize sugar prices have been hampered by a 210,000 sugar import cap that the Treasury introduced to protect local producers.

Under the Common Market for Eastern and Southern Africa (COMESA), members are allowed to import up to 350,000 tonnes, meaning that the country could import an additional 140,000 tonnes to cushion locals.

SOURCE: The Kenya wall street

Carrefour set to Open it’s First CBD Store By December in Nairobi

ALSO READ: Tanzania Exports it’s First Consignment of Processed Cashew Nuts to the US

Sugar Prices hit High Record on Decline in Sugar Cane Production

ALSO READ: Airtel Completes Separation of its Mobile Money business from Telecommunications