Shoprite Poised To Buy Domestic Player As Economic Recovery Begins

After a debilitating decade-long plunge, Zimbabwe's economy appears to have finally turned the corner after ditching the Zimbabwean dollar and adopting the US dollar and South African rand. After ten successive years of economic contraction, BMI expects Zimbabwe to register GDP growth of 3% in 2009. Quick to pick up on emerging opportunities within the country's underdeveloped fast-moving consumer goods (FMCG) industries, some of South Africa's leading firms are stepping into the breach. Mass grocery retail (MGR) behemoth Shoprite is the latest to enter the fray; the retailer is believed to be locked in negotiations with domestic retailer OK Zimbabwe

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