SGI Africa develops a new generation of shopping malls into 8 West and Central African countries
SGI Africa develops and operates shopping centers primarily through the PlaYce brand. The company opened its first PlaYce shopping center in Côte d’Ivoire at the end of 2015 (PlaYce Marcory, Abidjan) and aims to expand into seven other West and Central African countries: Cameroon, Republic of the Congo, Nigeria, Ghana, Gabon, Senegal, and the Democratic Republic of Congo. Over the next five to seven years, SGI Africa plans to build and then operate around 20 shopping centers, each including a Carrefour hypermarket or supermarket, as well as a portfolio of brands under franchise to CFAO (in its “Club of Brands”).

Why did we invest in SGI Africa?

SGI Africa is a fast-growing pan-African property company created by CFAO to support its retail development plan. SGI Africa develops and operates shopping centers primarily through its PlaYce brand. The company opened its first PlaYce shopping center in Côte d'Ivoire at the end of 2015 (PlaYce Marcory, Abidjan) and aims to expand into seven other West and Central African countries: Cameroon, Republic of the Congo, Nigeria, Ghana, Gabon, Senegal, and the Democratic Republic of Congo. Over the next five to seven years, SGI Africa plans to build then operate around 20 shopping centers, each including a Carrefour hypermarket or supermarket, as well as a portfolio of brands under franchise to CFAO. These projects represent an investment of around €500 million, which will be financed by shareholders’ equity and bank debt.
SGI Africa's shareholding is now constituted of Wendel (40% of capital), CFAO (40%) and FFC (partnership between CDC International Capital and Qatar Investment Authority, 20%). Thus, Wendel and CFAO co-control the company.
Wendel, through Oranje-Nassau Développement, made an initial investment in SGI Africa of around €25 million and will gradually invest up to €120 million over the next few years.

Credits : Raymond Djigla

Shopping malls in Abidjan

PlaYce Marcory 

The PlaYce Marcory shopping center in Abidjan, which was opened in December 2015, houses the first Carrefour store in West Africa. With a total floor area of 20,000 square meters (of which around 15,000 are retail area), PlaYce Marcory houses a 3,200 square meter Carrefour hypermarket, a shopping mall with 55 retail outlets, and a food court with more than 400 seats.

The 55 retail outlets in the shopping mall include both African and international brands. These latter include the “Club of Brands”, a portfolio of 15 major international brands looking to develop in Africa. The 40 retail outlets that complete the shopping mall’s retail offering are local and regional brands, which benefit from this new lifestyle and consumption space.

PlaYce Marcory is the showcase for a new generation of shopping choice, modernity, and centers in Africa that offer a one-stop destination with greater attractiveness.

 

PlaYce Palmeraie

PlaYce Palmeraie, the second shopping centre designed and operated by CFAO Retail in Côte d’Ivoire, officially opens today in Abidjan’s Cocody-Riviera Palmeraie - Génie 2000 district.

PlaYce Palmeraie spans 29,000 square metres, with a carpark, green spaces and the shopping centre, which houses a 2,400-square-metre Carrefour Market supermarket. Among the 24 brands at the shopping mall are partners from the CFAO Retail Club of Brands – San Marina, Jules, La Halle, Beauty Success, Vib’s (Cache-Cache and Bonobo) and Brioche Dorée – as well as fashion outlets and stores offering services. New brands have also joined PlaYce Palmeraie, including Ciss St Moïse, Startimes, Optic 2000, Photomaton, Bollé Store, Clean Pressing, La Périgourdine and Real Kebab.

A full food court with three major brands – Brioche Dorée, Burger King and Real Kebab – rounds out the services offered at PlaYce Palmeraie.

Future openings are planned for Côte d’Ivoire, Cameroon and Senegal.

 

Playce Marcory
Crédits - Raymond Djigla

Highlights of 2016

On June 28, 2016 Wendel and CFAO announced their joint ownership in SGI Africa. SGI Africa’s shareholders are Wendel (40% of the capital), CFAO (40%), and FFC (partnership between CDC International Capital and Qatar Investment Authority, 20%). SGI Africa will have access to around €500 million, financed by shareholders’ equity and bank debt, to build around 20 shopping centers in eight African countries (Côte d’Ivoire, Cameroon, Republic of the Congo, Nigeria, Ghana, Gabon, Senegal, and the Democratic Republic of Congo).

Top management

Xavier Desjobert
Chairman

 

 

©CFAO-Patrick Sagnes

Wendel dans la gouvernance

Supervisory Board

Stéphane Bacquaert
Stéphane Heuzé