Shoprite to Open Store in Tete, Mozambique
Africa’s largest food retailer, Shoprite, is opening a new store in the Town of Tete, Mozambique later this year. Property development company, Terrace Africa , confirmed Shoprite as their anchor tenant and indicated that the new shopping centre will also feature many other well-known retailers.
Tete, with an estimated population over 250,000, is expected to receive an economic boost later this year when the new rail corridor to Nacala is officially opened. Further to this, a new coal fired power station is in a very advanced planning stage. Tete is strategically positioned between Zambia, Zimbabwe and Malawi making it a strategic transport and logistics hub.
“We are thrilled to bring this new shopping experience to Tete. The project has already provided jobs to the local community and we are confident that it will encourage further investment in the town” mentions Sean Oberholzer. Development Manager for Terrace Africa.
The new Shoprite store will feature a full selection of groceries and fresh produce as well as a bakery, deli, butchery and liquor offering. The development will also include fashion, furniture and banking services.
On their plans for future investment, Oberholzer states “Terrace Africa’s strategy is to build convenience type retail shopping centres across Mozambique, Zimbabwe and Zambia. We focus on smaller towns where we are able to make a difference to the communities and bring new concepts and products to market, we are enthusiastic about the opportunities that exist in Mozambique as it suits our investment profile”.
Terrace Africa is a property developer with active projects in Mozambique, Zambia and Zimbabwe. Driven by a young team, the company is passionate about the opportunites that Africa presents. Terrace Africa will focus on convenience type retail and has secured a development pipleline of over US$75 mililion.
*Source APO]]>
