Carrefour completes exit from Adialéa as CFAO assumes full ownership
French retailer withdraws from African joint venture while expanding its retail network in Kenya
WEST AFRICA – French retailer Carrefour has sold its remaining 5% stake in Adialéa, its African joint venture with CFAO, marking its full withdrawal from the partnership in July 2025, according to Jeune Afrique.
The venture operates Carrefour-branded stores in Cameroon and Côte d’Ivoire.
Carrefour initially held 45% of Adialéa when it was formed in 2013 to develop the Carrefour brand in Africa but gradually reduced its holding over the years.
CFAO Consumer’s chief executive, Franck Rouquet, confirmed that Adialéa is now entirely owned by CFAO, which will continue to operate the network under the Carrefour brand license.
Rouquet said CFAO has the financial strength and operational experience to maintain expansion and investment in the business without Carrefour’s participation.
The sale follows Carrefour’s recent retreat from Senegal, highlighting a wider pullback from certain African markets.
Adialéa shifting focus under CFAO
Under CFAO’s management, Adialéa is refocusing on smaller, more profitable store formats such as Carrefour Market and Carrefour Express.
According to Julien Garcier, director of Sagaci Research, the company has scaled back on large hypermarkets, which have struggled against informal retailers and changing consumer habits.
Adialéa operates in Côte d’Ivoire and Cameroon, although its financial pressures are most visible in Cameroon.
On June 23, 2025, the Cameroonian subsidiary conducted a two-step recapitalization worth about US$8.2 million, briefly raising share capital before reducing it to offset accumulated losses from the previous year.
A similar restructuring was carried out in 2022, when losses amounting to roughly US$6.1 million were cleared, suggesting that the subsidiary has faced ongoing financial difficulties.
Carrefour growing presence in Kenya
Even as Carrefour exits Adialéa, the retailer continues to expand in East Africa through its partnership with Majid Al Futtaim.
The company recently launched its 30th store in Kenya at Waris Mall in Ruai, Nairobi, covering about 1,500 square metres and employing more than 40 people.
Majid Al Futtaim said the new outlet will cater to the fast-growing eastern Nairobi area, where residential and infrastructure development have increased demand for modern shopping facilities.
The Ruai store offers groceries, household goods, and fresh produce, much of it sourced from Kenyan farmers and small suppliers.
The company said this sourcing approach gives farmers access to formal markets, stabilizing their income while ensuring consistent supply and quality for the retailer.
Carrefour’s Kenyan network now includes 25 stores in Nairobi and its surroundings, four in Mombasa, and one in Kisumu since entering the market in 2016.
Although the investment value of the Ruai branch has not been disclosed, analysts estimate that similar outlets typically require several million US dollars to develop.
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