Massmart sees more food shops, wider Africa network

2011-02-24 11:24

South African discount retailer Massmart aims to open 20 food stores in the next three years, and aims to enter Angola and other new markets in Africa, its chief executive said today.

Grant Pattison told reporters on a conference call the company is looking to enter oil-rich Angola, as well as the Democratic Republic of Congo, Senegal, Lesotho and Cameroon.

“We’ve currently got about a R4 billion food retail business. Over the next three years we will open 20 stores, so we will hope to get it to between R6 billion and R7 billion,” Pattison said.

US retailer Walmart has bid for 51% of Massmart, although the deal still requires approval from South African competition authorities.

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