US group Wal-Mart is set to make its mark in South Africa
Wal-Mart intends to have almost all branches in Africa, this does not make a lot of competitors fear with the statement. Africa is a good market with mengenah class economic power and therefore will not experience many losses if the value of sales is at a standard rate, the buyer still wants to buy quality goods.
Africa and Wal-Mart is an economic system that still contradicts the economic foundation. Africa has only a few countries with the best economic became the target of Wal-Mart.
Wal-Mart has also agreed to honour all collective bargaining agreements that are currently in place for the next three years. It had already agreed not to make any lay-offs for two years and to spend 100m rand ($15m; £9m) in the next three years to help South African suppliers. Wal-Mart plans to use Massmart, which has stores in 14 African countries, as a stepping-stone into a fast-emerging continent. But its first target is South Africa, the region’s biggest and most developed market. It says it will buy most of its fresh food locally, which is hardly surprising given that South Africa has big, efficient farms and is far from anywhere similarly blessed. It also pledges to open dozens of new stores and create “thousands of new union jobs”.
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