French retail giant Carrefour has officially announced plans to enter the Ethiopian market through a franchise and supply partnership with Queens Supermarket PLC, a subsidiary of the powerful MIDROC Investment Group.
The move comes after Ethiopia opened up its retail and wholesale sectors to foreign investors in 2024 and 2025, ending long-standing restrictions that limited participation to local firms only.
Under the new investment framework, foreign retailers are now allowed to operate in the country as long as they meet a minimum capital threshold of US$2.5 million.
MIDROC Investment Group is owned by Ethiopian-born Saudi billionaire Mohammed Hussein Al Amoudi, widely regarded as Ethiopia’s wealthiest individual. His business interests span multiple sectors, including retail, gold mining, energy and oil.
The partnership, announced on January 5, 2026, will see Carrefour rebrand Queens Supermarket’s existing network of 13 stores under the Carrefour name.
Beyond the rebranding, the two companies have outlined ambitious expansion plans, with 17 additional outlets expected to open by 2028. If achieved, this would bring Carrefour’s total store count in Ethiopia to around 30 locations.
Speaking on the deal, MIDROC Investment Group CEO Jemal Ahmed said the partnership combines Carrefour’s global retail expertise with MIDROC’s strong local market understanding.
He noted that the collaboration aims to deliver high-quality products at affordable prices while offering Ethiopian consumers a modern shopping experience tailored to local needs.
Carrefour’s entry into Ethiopia forms part of its broader “Carrefour 2026” strategy, a global expansion plan focused on growing the brand through franchise partnerships in at least 10 new countries.
The development marks a significant milestone for Ethiopia’s retail sector, signalling increased foreign investor confidence as the country gradually opens key industries to international participation.
