Carrefour, the world’s second biggest retailer, has partnered with CFAO, an African distribution firm, to enlarge its operational territory in Africa as part of the strategy to bolster the international footmark of its brands.
The two companies told Wall Street Journal (WSJ) this week they have formed a joint venture aimed at developing stores in eight West and Central African countries.
The firms said Carrefour will have 45 percent shareholding of the new venture, while CFAO will hold the outstanding 55 percent.
The new venture will have the select rights to launch new shops under the Carrefour flag in Cameroon, Congo, Ivory Coast, the Democratic Republic of the Congo, Gabon, Ghana, Nigeria and Senegal.
Carrefour currently has operations in Africa and has many retailers using its name in Egypt, Tunisia and Morocco. Carrefour is currently restructuring its operations around the world. It has disposed of its possessions in many countries.
This is in view of the fact that it wants to use this cash to expand in China and Brazil, some of the world’s biggest emerging economies.