PARIS: Retailing giant Carrefour is teaming up with CFAO to expand into eight central and west African states and to open stores in shopping centres to be built by the Africa-centred distributor.
The two companies said on Wednesday they had signed a deal to create a joint venture to target expansion in Cameroon, Congo-Brazzaville, Democratic Republic of Congo, Gabon, Ivory Coast, Nigeria, and Senegal.
Many African countries are posting growth rates higher than in Europe and a middle class with new shopping habits is emerging.
Carrefour, the world's second-biggest distribution company after the US group Walmart, has so far had only a limited presence in Africa with franchise operations in Tunisia, Morocco and Egypt.
The joint venture will allow Carrefour to benefit from the experience in the region of CFAO, which is involved in the distribution of cars, pharmaceuticals and consumer goods in 32 African countries.
CFAO, owned by Toyota Tsusho Corporations since last year, sought a major retailer for the dozens of shopping centres it plans to build, with a first expected to open in the Ivory Coast's commercial capital Abidjan in 2015. (AFP)
