CHRIS GILMOUR: Massmart’s dream of conquering Africa lies in tatters
Such a tiny enterprise without growth potential is meaningless in the world of Walmart
23 March 2021 - 14:12
Watching the recent full-year results presentation by Massmart, one was left with the impression that the dream of being the pre-eminent African retailer that was articulated in 2010 when Walmart bought control of the company, has now all but evaporated.
Massmart appears to be in survival mode, selling off assets and streamlining the business. The Covid-19 pandemic hasn’t helped but Massmart was in trouble long before it arrived. ..
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