The French retail giant announced yesterday its entry into the Ethiopian market through a franchise agreement with Queens Supermarket PLC, a subsidiary of Midroc Investment Group, thereby advancing its international expansion goals. Carrefour’s initial press release was imprecise: the group clarified today that Ethiopia is the 13th new franchise country to join its network since 2022, not the 10th as previously stated. The target of 10 franchised countries set by the brand has therefore been significantly surpassed.
Carrefour is continuing the rollout of its “Carrefour 2026” strategic plan by signing a supply and franchise partnership in Ethiopia. This agreement includes the conversion of the entire current Queens Supermarket network to the French retailer’s banners, with an initial transformation phase set for the first half of 2026.
Beyond the conversion of the 13 existing outlets, the development plan calls for the opening of 17 additional stores by 2028. Patrick Lasfargues, Managing Director of Carrefour International Partnership, emphasized that this launch marks “another milestone in the execution of [our] expansion strategy,” with the group having already surpassed 3,000 franchised stores in October 2025.
For Jemal Ahmed, CEO of Midroc Investment Group, this alliance will combine local market knowledge with Carrefour’s operational excellence to offer affordable products to Ethiopian consumers.
Carrefour shares are currently up 0.4% in Paris.