• Carrefour signed a franchise and supply agreement to enter Ethiopia with Midroc’s Queens Supermarket PLC.
• The partners will convert 13 existing stores in 2026 and open 17 additional outlets by 2028.
• Carrefour expanded into 13 new franchise countries since 2022 and generated €94.6 billion in 2024 revenue.

French retail group Carrefour announced on Monday, January 5, that it will enter the Ethiopian market through a franchise and supply agreement with Queens Supermarket PLC, a subsidiary of local private conglomerate Midroc Investment Group.

Under the terms of the agreement, thirteen existing Queens supermarkets will convert to the Carrefour Market banner later this year. In addition, the two partners plan to open 17 new stores by 2028.

“Carrefour will support Midroc teams in transforming the entire store network under the Carrefour brands and in implementing an ambitious expansion plan. The first stores will be rebranded by the first half of 2026,” the group said in a statement. Carrefour added that the agreement illustrates the strength and momentum of its franchise-based business model.

“This launch in Ethiopia marks another important step in the execution of our international franchise expansion strategy, which already allowed us to surpass 3,000 franchised stores in October 2025,” said Patrick Lasfargues, Carrefour’s Director of International Partnerships, quoted in the statement.

“By leveraging our deep knowledge of the Ethiopian market, the commitment of Midroc teams and Carrefour’s excellence, we will be able to offer Ethiopian consumers high-quality products at affordable prices and an experience that fully meets their expectations,” said Jemal Ahmed, Chief Executive Officer of Midroc Investment Group. Midroc operates across sectors including retail, agriculture, manufacturing and mining.

Carrefour’s entry into Ethiopia raises to 13 the number of new countries it has added under franchise agreements since 2022. These markets share rising urbanization and the emergence of middle classes that continue to reshape consumption patterns.

In mid-December 2025, Carrefour announced its entry into Ghana’s retail market through a franchise agreement with local operator Brands For All. That deal предусматривает the conversion of seven hypermarkets starting in April 2026, followed by the opening of five new stores by 2028.

Carrefour operates nearly 15,000 stores in more than 40 countries worldwide, with most outlets run under franchise or lease-management models. The group reported revenue of €94.6 billion ($110.5 billion) in 2024.

This article was initially published in French by Walid Kéfi

Adapted in English by Ange Jason Quenum