Billionaire Who Owns Carrefour Supermarkets in Kenya

Majid Al Futtaim (MAF) is the exclusive operator of Carrefour in Kenya. MAF is also the owner of Majid al-Futtaim Hypermarkets.

Carrefour Group is a French multinational retail and wholesaling corporation headquartered in Massy, France.

It operates a chain of Hypermarkets, grocery stores and convenience stores. By 2024, the group had 14,000 stores in 40 countries.

It is the seventh-largest retailer in the world by revenue.

Majid Al Futtaim is an Emirati billionaire and the founder of Carrefour Supermarket. He also founded the Majid Al Futtaim Group.

Majid Al Futtaim was the cousin of fellow billionaire Abdulla Al Futtaim, the head of the Al Futtaim Group, from whom he later became estranged.

The Majid Al-Futtaim Group currently spans 20 international markets and employs over 45,000 people

Also Read: List of Quickmart Supermarket Branches in Kenya

In 2023, MAF purchased a 25% minority stake in Carrefour Group’s hypermarket business for €530 million.

MAF also owns all of Majid al-Futtaim Hypermarkets’ shares.

MAF’s showpiece mall, the Mall of the Emirates, is a major attraction in Dubai. It is home to an indoor ski slope.

MAF has also invested in hotels and movie theatres.

Majid Al-Futtaim died on 17 December 2021 in Dubai His son Tariq Al Futtaim currently serves on the board of the Majid Al Futtaim Group.

 Carrefour in Kenya

Carrefour has 20 outlets in Kenya, largely located in the suburbs of Nairobi. The retailer’s expansion into Kenya has benefited from the failure of previously dominant supermarket chains such as Nakumatt and Uchumi as Carrefour rushed in to occupy the retail spaces and market share, they vacated.

The retailer is the anchor client of the Hub Karen Mall where it opened its first Kenyan store in May 2016.

Also Read: Study: Kenyan Supermarkets selling chicken and pork contaminated by superbugs

A second outlet was opened at Two Rivers Mall in March 2017 soon followed by a third store at the Thika Road Mall in November 2017. 

The fourth outlet was opened at the Junction Mall along Ngong Road in January 2018; the fifth at Sait Center in April 2018. In June 2020, Carrefour opened a new store along Uhuru Highway.

In September 2020, Carrefour announced plans to continue its expansion efforts by opening three branches in the coastal city of Mombasa.

In May 2021 it opened another branch of Carrefour Market in Garden City Mall along the Thika superhighway. It also has a branch at Westgate Mall previously occupied by ShopRite.

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