French retail giant Carrefour has announced its entry into the Ethiopian market through a franchise and supply agreement with Queens Supermarket PLC, a subsidiary of the MIDROC Investment Group.
- •In 2024 and 2025, the Ethiopia opened the retail and wholesale sectors to foreign investment, which were previously restricted to domestic players.
- •Under the new framework, foreign companies can participate provided they meet a minimum capital requirement of US$ 2.5 million.
- •MIDROC is owned by Ethiopian-born Saudi billionaire Sheikh Mohammed Hussein Al Amoudi, whose interests in Ethiopia range from retail, gold mining and oil.
The partnership, announced on January 5, 2026, involves the rebranding of Queens Supermarket’s existing network of 13 stores under the Carrefour banner. The partners have projected the opening of 17 additional stores by 2028, potentially bringing the total network to 30 locations.
"By leveraging our deep knowledge of the local Ethiopian market, the dedication of the Midroc teams, and Carrefour's excellence, we will be able to offer Ethiopian consumers high-quality, affordable products and an experience that perfectly meets their expectations,” Jemal Ahmed, CEO of MIDROC Investment Group said.
This move is part of the “Carrefour 2026” strategic plan, which aims to expand the group’s franchise model into 10 new countries.
