The Kenyan chain has closed out­lets in re­cent weeks on the back of stock­outs and debts

Business Daily (Kenya) - - FRONT PAGE - Mugambi Mutegi­tion­

CAP­I­TAL Paris-based com­pany Ame­this Fi­nance is seek­ing to raise for in­vest­ment in 11 coun­tries in­clud­ing Kenya.

French re­tailer Car­refour is to­mor­row set to open its third Nairobi store at Thika Road Mall (TRM), two months af­ter ri­val Naku­matt evac­u­ated the space.

Car­refour, whose lo­cal fran­chise is held by Dubaibased con­glom­er­ate Ma­jid Al Futtaim, will ini­tially op­er­ate on the first floor be­fore open­ing its doors on the mall’s ground floor mid next year.

The re­tailer’s move to set up in the pop­u­lated res­i­den­tial area of Roysambu marks a shift in strat­egy since its op­er­a­tional stores — at Nairobi’s The Hub and Two Rivers malls — serve as des­ti­na­tion shop­ping cen­tres.

“We are pleased and hon­oured to be bring­ing our ser­vices closer to the res­i­dents of Roysambu and Kasarani, as well as the grow­ing num­ber of those trav­el­ling along the busy Thika Road,” Franck Moreau, the coun­try man­ager at Al Futtaim Re­tail

The out­let cov­ers over 5,000 square me­tres of sell­ing area and will cater for a grow­ing pop­u­la­tion...

of items that the mall will host to­gether with spe­cial­ist sec­tions

(Kenya), said in a state­ment. “When fully op­er­a­tional later next year, the Thika Road Mall store will stock over 30,000 items and host some of our spe­cial­ist sec­tions such as fresh pro­duce, gro­ceries, fresh bak­ery, and butch­ery.”

Car­refour is one of the ben­e­fi­cia­ries of Naku­matt’s de­cline, with the Kenyan re­tailer clos­ing more branches in re­cent weeks on the back of stock­outs and huge debts


in­clud­ing rent ar­rears.

The TRM out­let cov­ers over 5,000 square me­tres of sell­ing area and will ca- ter for a grow­ing pop­u­la­tion seg­ment re­sid­ing in Roysambu and Kasarani as well as those trav­el­ling along the busy Thika Road. It will cover two floors of the mall whose con­struc­tion was com­pleted in 2013.

Al Futtaim cur­rently works with over 640 sup­pli­ers, lo­cal man­u­fac­tur­ers, pro­duc­ers and farm­ers. The new store is ex­pected to em­ploy 200 peo­ple, rais­ing the com­pany’s staff count to 800.

“This (open­ing) will com­pletely trans­form the mall.

‘‘We ex­pect higher foot­fall, leav­ing our ten­ants in a bet­ter po­si­tion,” TRM chief op­er­at­ing of­fi­cer Bashir Dalvi said in an in­ter­view.


NEW TEN­ANT A sec­tion of Thika Road Mall.

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