Massmart Cautious On Outlook, Set To Big Up Food Presence

Massmart has followed Shoprite in cautioning that South African consumers remain in a delicate spot, as high unemployment and household debt hamper consumer spending despite some relief from a stronger rand (putting a lid on some of the imported food price inflation). Currently in the process of being acquired by Wal-Mart for about US$2.3bn (pending antitrust approval), Massmart is expected to focus more on food retailing domestically over the next few years, while pursuing expansion in African growth economies like Angola.

To read the full article, please choose one of the following options: