Carrefour Kenya has repaid a Sh1.53 billion loan it obtained from Dubai-based parent firm Majid Al Futtaim before contractual maturity, an indicator of the growing fortunes and financial muscle of its local subsidiary.
In 2016, Majid Al Futtaim extended a Sh1.5 billion loan to its Kenyan subsidiary to fund its expansion, money that was to be repaid during a two year period starting 2018.
