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...

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