Carrefour Partners With CFAO To Expand Business Presence In Africa

French retailer Carrefour SA said it partnered with Africa-based distribution company CFAO to expand its business operations in Africa. Seeking to develop various store formats in eight countries in West and Central Africa, the partners signed a deal to form a joint venture, 45 percent of which will be owned by Carrefour and the remaining 55 percent by CFAO. As part of the partnership deal, the joint venture will have the exclusive rights to open Carrefour-branded retail stores in countries, including Cameroon, Congo, Ivory Coast, and Gabon.