Massmart sticks to its Africa strategy
Expansion not the expected scramble, but growth is steady
Almost seven years since the world's biggest retailer bought a controlling stake in Massmart, the company is still taking a steady approach to growing its footprint outside SA's borders. When Walmart acquired the largely white-goods retailer after a protracted regulatory tussle, markets expected it to embark on a scramble for a bigger stake in sub-Saharan African markets. Instead, Massmart has followed a slower path to expansion despite some criticism, especially as its domestic market has struggled. Next year, the company is set to enter the Kenyan market with its Builders Warehouse, establishing a presence in its 13th country on the continent. Venturing past the Limpopo River has proven a difficult task for many South African companies in recent years as economies have slowed since the end of the Chinese-inspired commodity super cycle. Further complicating matters have been stringent regulatory conditions. Builders Warehouse CEO Llewellyn Walters said opening two to three stores a...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.