Peguilhan's comments came in answer to Ahram Online's question about the possible effect of the European conflict on Majid Al-Futtaim's investment plans in the local market.
Ahram Online had attended a media roundtable on Monday on the occasion of both Carrefour’s 20th year in Egypt and its anniversary which will be marked in all Carrefour stores 1 January-14 February 2023.
Peguilhan also told Ahram Online that Egypt is a very important market for Majid Al-Futtaim's business, with total investments of EGP 2.3 billion over the past 20 years. He added that the group will open 20 new Majid Al-Futtaim Retail stores across the country in 2023, including one which will be inaugurated in the New Administrative Capital.
In his response to Ahram Online's question on how Carrefour has been supporting the local market and the government efforts amid the ongoing global inflationary wave, Peguilhan explained that Carrefour has been committed to offering the best and most affordable prices for goods, especially for basic commodities, over the past 20 years and will continue to do so.
He also added that Carrefour is a member of the pricing committee formerly announced by the prime minister for the purpose of pricing basic commodities in a way that curbs inflation's accelerating pace.
Meanwhile, Peguilhan said that Carrefour has basic commodities, including rice, that cover almost 1.5 months of the local market needs.
During the event, Peguilhan mentioned that Carrefour is devoted to investing in local talent and to providing Egyptians with valuable work opportunities.
“To that end, Majid Al-Futtaim Retail is planning to launch a ‘Retail Business School’ in 2023 to provide high-quality education to better equip the country’s booming retail sector”, he noted.
“We are proud to celebrate 20 years in Egypt as we continue investing in the local community and economy by collaborating with key local suppliers, ensuring stock availability and offering competitive prices. Looking at the year ahead, we look forward to continuing our expansion and have allocated EGP 400 million to invest across 2023. Our focus is not only on business expansion, but also on continuing to deliver value through every experience for our colleagues and customers”, said Peguilhan.
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