S AFRICA: Massmart in advanced talks to enter Kenya

By Michelle Russell | 11 July 2012

Wal-Mart Stores owns a majority stake in Massmart, which is South Africas third-largest general retailer

Wal-Mart Stores owns a majority stake in Massmart, which is South Africa's third-largest general retailer

South African retailer Massmart Holdings has confirmed it is in talks to open its first store in Kenya.

Brian Leroni, a Massmart executive for corporate affairs, told just-food today (11 July) the retailer is in "an advanced stage of negotiations" with a shopping centre developer Actis to open a Game store in Nairobi, Kenya.

Wal-Mart Stores owns a majority stake in Massmart, which is South Africa's third-largest general retailer. It has around 36 stores outside of South Africa, many of those its Game discount retail stores. The stores sell general merchandise, FMCG products and non-perishable groceries.

The spokesperson did not give a timeline for the store opening in Kenya and said no further details could be provided until discussions with the developer had been concluded. However, he added: "Kenya is an attractive market, an important consideration has been to identify suitable store sites."

Massmart has so far been slow in its African expansion, a year after Wal-Mart took a 51% stake in the South African retailer.

Last year, the combined Wal-Mart-Massmart entity said it was planning "significant new store openings" and aims to increase its food business by over 50% in the next five years

Sectors: Emerging markets, Retail

Companies: Massmart, Wal-Mart Stores

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