French retail giant Carrefour is entering the Ethiopian market through a major franchise agreement. The partner is Queens Supermarket PLC, a subsidiary of the Midroc Investment Group owned by Ethiopian-Saudi billionaire Sheikh Mohammed Hussein Al Amoudi. Consequently, this move marks a significant expansion for Carrefour in East Africa. The plan involves converting 13 existing stores and opening 17 new outlets by 2028.
Details of the Franchise Agreement
Carrefour and Midroc officially announced the partnership on January 5. The franchise and supply agreement will first rebrand 13 existing Queens Supermarket locations to the Carrefour Market banner. This conversion will occur in the first half of 2026. Subsequently, the partners plan an ambitious expansion, adding 17 new stores across Ethiopia by 2028. Therefore, the deal leverages Midroc’s strong local presence and Carrefour’s global retail expertise.
Strategic Importance for Carrefour
This entry raises to 13 the number of new countries Carrefour has entered under its franchise model since 2022. Patrick Lasfargues, Carrefour’s Director of International Partnerships, noted the deal reinforces the momentum of their franchise strategy, which surpassed 3,000 franchised stores globally in late 2025. The company targets markets with rising urbanization and growing middle-class consumption, trends clearly present in Ethiopia.
Local Expertise Meets Global Retail Power
Midroc Investment Group operates across several key sectors in Ethiopia, including retail, agriculture, and mining. CEO Jemal Ahmed emphasized the partnership’s potential. He stated that combining Midroc’s deep local knowledge with Carrefour’s excellence will deliver high-quality, affordable products to Ethiopian consumers. This local-global synergy is central to Carrefour’s franchise model, which now spans over 40 countries.
Carrefour’s Broader African Expansion
The Ethiopia deal follows closely on another African market entry. In December 2025, Carrefour announced a franchise agreement to enter Ghana. That plan involves converting seven hypermarkets starting in April 2026. This parallel expansion underscores Carrefour’s strategic focus on high-growth African economies.
Market Impact and Future Outlook
Carrefour’s entry will likely intensify competition in Ethiopia’s formal retail sector. It signals growing international confidence in the country’s consumer market potential. The group, which reported €94.6 billion in 2024 revenue, operates nearly 15,000 stores worldwide, primarily through franchise and lease-management models. This low-capital, scalable approach is key to its rapid global growth.
A Major Milestone for Ethiopian Retail
Carrefour’s move into Ethiopia represents a major milestone. It connects a global retail leader with a powerful local conglomerate. The partnership promises to transform the shopping experience for Ethiopian consumers. Moreover, it highlights the strategic importance of Africa in global retail expansion. As Carrefour executes its conversion and opening plans, the market will watch closely to gauge consumer response and competitive dynamics.
