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Massmart chairman confirms African expansion plans

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Massmart’s chairman Kusseni Dlamini has told the African CEO Forum that the business intends to open twenty new stores outside its core South African market during the next three years, stating that trading space will increase by nearly 36% over the period.

He confirmed plans to open eight new stores in Africa this year, including branches in Kenya, Ghana, Mozambique, Zambia and Swaziland.

Wal-Mart-owned Massmart is based in South Africa and operates a portfolio of differentiated, complementary, focused wholesale and retail formats. It is the second-largest distributor of consumer goods in Africa, the leading retailer of general merchandise, liquor and home improvement equipment and supplies, and the leading wholesaler of basic foods. The Group comprises nine wholesale and retail chains, and one buying group.

 Mr Dlamini told Reuters that Massmart was looking to start operating in West Africa and stated: “We’re very bullish about Africa, sub-Saharan Africa as a whole,”

Source : Insight DIY Team

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28 March 2018

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