Business

Wal-Mart May be Looking at Entering S. Africa, Pick & Pay Says

Oct. 21 (Bloomberg) — Wal-Mart Stores Inc. may be looking at entering the South African market in the next five years and has been “sniffing around” for opportunities in Africa’s largest economy, Pick n Pay Stores Ltd.

Chief Executive Officer Nick Badminton said at a presentation in Johannesburg today. Pick n Pay, South Africa’s second-largest grocery chain, met with Wal-Mart “out of courtesy,” he added. The world’s largest retailer also met distributors in South Africa, Badminton said.

Leave a Reply

Your email address will not be published. Required fields are marked *