• Reuters reports that Massmart, the South African retailer that is majority owned by Walmart, "plans to open 90 stores in the next three years." CEO Grant Pattison says that most of the new stores would be in South Africa, where debt-laden consumers are reining on spending, while 10 to 15 stores would be opened on the rest of continent."
Walmart has been reported to be interested in acquiring other African retailers as it looks to expand its presence on the continent.
Walmart has been reported to be interested in acquiring other African retailers as it looks to expand its presence on the continent.
- KC's View:
