The French retailer announces 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 objectives.
Carrefour is continuing the rollout of its “Carrefour 2026” strategic plan by signing a supply and franchise partnership in Ethiopia. This agreement provides for the conversion of the entire current Queens Supermarket network to the French retail giant’s banners, with an initial phase of transformation set to begin in 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, emphasizes that this launch is “another milestone in the execution of our expansion strategy,” with the group having already surpassed the 3,000 franchised stores mark in October 2025.
For Jemal Ahmed, CEO of Midroc Investment Group, this alliance will combine local market expertise with Carrefour’s operational excellence to offer affordable products to Ethiopian consumers. This move brings the number of new countries added under franchise to ten, in line with the group’s ambitions.
The stock is up more than 0.9% this morning in Paris, while the CAC is down 0.3%.