Shares in Massmart, which posted a 2 percent rise in annual profits in 2017, have failed to keep pace with Shoprite, Africa’s biggest retailer, which has pursued an aggressive expansion strategy abroad as the economy at home has lagged. * Stores in Kenya, Nigeria, Ghana, Mozambique, Zambia, Swaziland, * Walmart unit also eyeing Francophone Africa, * Developments in South Africa to spur growth, boost confidence (Adds quotes, details). But the risk reward is there,” said Turner, whose company operates in 12 African states. iStore Ikeja Malll will be open from Tuesday 5 May. Sunday Times For the 52-week period, total sales growth was 7.5% and comparable sales growth 3.8%. “When we talk about growing our business across sub-Saharan Africa, that definitely includes Francophone Africa,” he said. In a 2013 report, it estimated Kano’s economy at $17bn, equivalent to Botswana’s. competitive regional management group, invested in a portfolio of

In the next three years we’ll be expanding our retail trading space by 35.6 percent.”. But the presence of armed guards searching vehicles – opening boots, checking the underside for explosives with mirrors – and frisking shoppers is a sign that this mall location faces unusual security challenges. Name (required) Walmart acquired a majority stake in Massmart Holdings Ltd. in 2011. Its head offices are in the Massmart House in Sandton, Johannesburg. Both Massmart and parent Wal-Mart are awaiting judgements on appeals from both the South African and the Namibian governments, who are seeking to block or attach more conditions to the group’s $2.4 billion deal. Walmart has had business operations in Nigeria, and 12 other African countries, since 2011 when it bought South African general merchandise retailer Massmart. – Reuters, © 2020 Independent Online and affiliated companies. Supporting our Associates – 10 of the Best Benefits Walmart Offers, In This New Era of Retail, We’re Testing New Ways to Operate, and It’s the Customer Who Wins, Community Theater: Walmart’s Drive-In Movies Brought People Together – but Not Too Close, Walmart Vriddhi Brings a Digitally Enhanced Learning Experience to Train MSMEs for Faster Growth and Recovery, Be a Hero to a Health Hero: Get Your Flu Shot. Based on the outcome in Lagos, Massmart will flex its muscles and move from a pilot phase of opening small-format stores to an aggressive roll-out. Massmart has six outlets in Nigeria. Massmart is the Kano, Nigeria - Opening a modern supermarket in a city under threat from an Islamist insurgency, with the added uncertainty of wobbly public power supplies, may sound like a retailer’s nightmare. All quotes delayed a minimum of 15 minutes. All quotes delayed a minimum of 15 minutes. Massmart Holdings Limited (JSE: MSM) is a South African firm that owns local brands such as Game, Makro, Builder's Warehouse and CBW.It is the second-largest distributor of consumer goods in Africa, the largest retailer of general merchandise, liquor and home improvement equipment and wholesaler of basic foods. Massmart operates more than 423 stores in South Africa and 12 other sub-Saharan countries.

African Expansion Plans. Reflecting Kano State’s demographic draw for retailers, its population almost rivals that of Rwanda, and investment bank Renaissance Capital ranks the northern territory as Nigeria’s second-wealthiest local economy after Lagos State. Nigeria has many hurdles -- red tape, a lack of retail infrastructure and poverty still rising despite strong economic growth. Sign up for the Moguldom newsletter - business news you need to know about economic empowerment for the digital age. http://www.bdlive.co.za/africa/africanbusiness/2014/03/02/massmart-tries-luck-in-nigeria. It signals a change of pace for the South African retailer, which now becomes … “We see ourselves as playing a catalytic role in the modernisation of African retail,” Dlamini said. The new year is looking more upbeat. On South Africa, Massmart said it was cautious about the outlook for the local consumer economy for the first-half of 2019. Massmart plans to develop its own shopping centres in Africa because of ever-increasing rent increases and developments not coming on stream as quickly as required. We’ve already started to see some improvements on that front,” he said. Massmart’s grand plan is to offset lower sales of items such as computers and fridges by expanding in food and clothing. Massmart is a South African-based globally Now, amid banner signs proclaiming “lower prices you can trust”, consumers can wheel their carts between shelves replete with commercial brands from across the globe in a new, air-conditioned Shoprite supermarket, anchoring a larger $85 million (R890m) shopping mall development in the city. It still accounts for about 91 percent of our overall business.” (Reporting by Joe Bavier Editing by David Goodman and David Evans). Massmart is the second-largest distributor of consumer goods in Africa, the leading retailer of general merchandise, liquor and home improvement equipment and … “Shoprite was first and we’re second, but with the power of Walmart we hope to overtake them,” said Massmart CEO Grant Pattison. The retailer expanded into food in South Africa only at the beginning of 2011, and for the latest financial year food sales were R13bn (up from R10bn a year ago), yielding a local market share of about 4% in food. “I think Massmart will have to pay school fees to get the right formula. Shoprite, the biggest retailer on the continent, said on Tuesday Nigeria could become as big a market as its South African home base, where it runs 700 stores. Massmart said sales increased 15 percent to 31.4 billion rand helped partly by food price inflation. At the moment, Africa contributes only about 9% to Massmart’s turnover. Based on the outcome in Lagos, Massmart will flex its muscles and move from a pilot phase of opening small-format stores to an aggressive roll-out. South African retailers have struggled as consumers battling job losses and high personal debt levels hold back on spending, but Massmart has lagged its closest rival Shoprite both on the stock market and operationally in recent years.

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