business news in context, analysis with attitude

• The Business Times has an interview with Andy Bond, the Walmart point person in charge of UK and African operations, in which he says that the company made a decision to target South Africa for expansion before deciding to acquire Massmart there are use it as a platform for future growth.

“And we particularly like the fact that there is an under-serviced customer at the moment that's emerging out of being underprivileged in the past, and we have great experience of helping those customers and at the same time making good business for ourselves,” Bond says.

According to the story, Bond also says that he plans to recruit locals for management roles, rather than parachuting people in from outside the country, and that he is going out of his way to assure labor unions that Walmart will be a friend, not an enemy.

"We are very, very ambitious about the growth of Massmart and that growth will inevitably fuel job creation,” Bond says. “Every market we are in we increase the job market over time. I don't think anyone should be concerned that Walmart's entrance into the market will be a situation where we will reduce labour.”
KC's View: