Business
Africa’s local retail market promise
Thursday, February 27, 2014
The company intends to add an additional 25-30 stores by mid-2015. It currently operates 40 stores and plans to open a refurbished Westgate branch. Besides organic growth needed to reach this target, the company is in negotiations to purchase three stores in Tanzania from South Africa’s ShopRite (#8) for TSh4 billion ($2.5 million). The acquisition will complement the company’s existing branch in Moshi. For ShopRite, the possible divestiture comes on the heels of a warning from the Tanzanian government that it was importing too much of its merchandise from South Africa.
Copyright The Africa Report 2014
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