New US$43m Smart Buy Hypermarket launches in Tanzania defying the odds

TANZANIA — Dar es Salaam, Tanzania has welcomed a new retail store in the market dubbed ‘Smart Buy Hypermarket’ worth about Tsh.100 billion (US$43m), established by Smart Ventures Company owned by a local investor, Rajab Semfuko, in partnership with an Indian national, Sam Siraj.

The supermarket located at the Palm Village Mall was opened by the minister of State in the President’s Office (Regional Administration and Local Government Authorities) Mr Selemani Jafo, reports The Citizen.

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The new business enters the market at a time when other players found the going to be tough due to low profitability, resulting to them exiting such as South Africa’s Score and Shoprite, Kenya’s Uchumi and Nakumatt and Botswana’s Choppies.

However, the Smart Buy Hypermarket managing director, Mr Semfuko, vowed to beat the odds to strive, banking his hopes on working with locals who really understand the business environments.

“Unlike the supermarkets which failed to make it in the past, our company is managed by a local team, which is fully conversant with the Tanzanian business environment and consumer behaviour, which in itself is a big advantage,” noted Mr Semfuko.

“We believe in organic growth and because of this we have chosen a customer centric approach that ensures our customers get what they want,” he added.

The Smart Buy Hypermarket partner, Mr Siraj, said despite the impact brought by the Covid-19 pandemic, the new entrant in the market is bringing customers an enjoyable one-stop shopping experience.

“We are excited for customers to enjoy the changes we have brought into the industry like affordable extensive product variety, most of which being local,” he said.

“We are ready to work with both small and large suppliers with a view to boosting local producers and making things easy for our customers to get their needs under one roof.”

The Smart Ventures Company is in future planning to open more branches in Dar es Salaam and extend its footprints to other regions like Dodoma.

Mr Jafo urged Smart Buy Hypermarket to embrace good customer service, quality and affordable products in bid to successfully stay in the market.

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