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Massmart still bullish about Africa - CEO

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Johannesburg – Despite a tough trading environment in Africa, Massmart [JSE:MSM] chief executive Guy Hayward is still positive about operational growth prospects on the continent.

The retail group, which owns Game, Builders, DionWired, Makro and Jumbo among others, released its interim results for the period ended June 25 2017 on Thursday. Speaking at the results presentation in Johannesburg, Hayward outlined the group’s strategy, which involves finding new growth outside South Africa.

“Despite the headwinds in Africa, we expect it will grow faster than South Africa. We must be there,” he said. The group expects growth in the Africa space to increase by 17.1% in the next two years.

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