Wal-Mart Eyes Africa
Retail giant Wal-Mart is trying to expand into the continent of Africa by offering to buy Johannesburg, South Africa-based Massmart Holdings for $4 billion. If the deal goes through, this will jump-start Wal-Mart's entry into the fast-growing African market. Massmart is a top distributor and retailer of consumer goods and general merchandise on the African continent. It runs 290 stores in 13 countries in Africa, with most of its stores in South Africa, and manages eight wholesale and retail chains under a variety of different brand names. The retail giant is continuing its international growth despite major setbacks in Germany and South Korea. Just what Africa needs: more cheap products from other countries. We wonder if Wal-Mart will also continue its alleged labor abuses and gender bias in the motherland?
Read more at Marketwatch.