Massmart, one of South Africa’s largest retail groups, plans to start operating in Angola in 2015 with two stores, the group’s director for Africa, Mark Turner said in Johannesburg.
During the Africa Investment Summit, organised by financial news agency Reuters, Turner also said that one of the stores would open in the first quarter of 2015 and the other would open in the third quarter of the same year.
The group plans to open two more stores in Angola in 2017, Turner said.
Massmart is 51 percent-owned by US group Wal-Mart Stores Inc, and is present in 11 sub-Saharan African countries including Nigeria, Tanzania and Ghana. It has sought to expand its presence in Africa and is currently building its first store in Kenya. (macauhub)