Companies Al Futtaim, GTBank key firms to watchMajid Al Futtaim is the franchise holder for French-owned retailer Carrefour. PHOTO | AFPDubai-based shopping conglomerate Majid Al Futtaim and Nigeria’s GTBank, which have strong presence in Nairobi, have emerged as top multinationals which will rule investments in developing markets in the next four years. EIU says Majid Al Futtaim, the franchise holder for French-owned retailer Carrefour, is the firm to watch in the retail sector in the Middle East, North Africa and sub-Saharan Africa with a key focus on Kenya and Egypt. The giant French retailer has also shown interest in moving into the Nakumatt Mega space — along Uhuru Highway — when the struggling retailer’s lease expires this month. “It has been spreading roots in neighbouring countries such as Kenya and Egypt, with plans to launch 100 Carrefour stores in the latter.”

Source: The North Africa Journal September 30, 2018 18:56 UTC