Industry sources reveal that the South African supermarket chain Shoprite, which recently opened a branch in Egypt, is considering further expansion, based on its initial success. The store, established as a joint venture, with 30 percent of its holdings under the Egyptian company EK, is one of nine branches throughout Africa, according to the Middle East Times.
These branches have reportedly contributed approximately 6.5 percent of Shoprite’s annual income. The recent opening comes as part of a company campaign to increase Shoprite’s overseas revenues by 50 percent.
A company executive noted that Shoprite would most likely face little competition in Egypt, as there are few formal retail stores currently operating in the country. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
