Govt welcomes Walmart decision to open branded stores in SA
American retail giant Walmart has announced plans to open its branded stores in South Africa later this year.
Walmart is the world's biggest retailer with nearly 11,000 stores in 19 countries.
The group already owns Massmart, which operates South African brands like Game, Makro and Builder’s Warehouse.
Massmart CEO Miles van Rensburg says the move follows its first-ever Growth Summit held in April, which brought together 12 suppliers from across Africa.
He says Walmart stores will sell items such as fresh groceries, household essentials, apparel, and technology.
"This news demonstrates Walmart's commitment to making high-quality, affordable merchandise accessible to more customers in our market, and it is great news for both our country and our economy."
Government spokesperson, William Baloyi, says the government welcomes the investment in the country.
"The investment underscores a strong belief in the country’s economic trajectory and confirmation that South Africa remains a reliable investment destination.
"Walmart’s commitment to sourcing locally produced products will contribute to the growth of the economy and job creation, which are apex priorities of the government’s medium-term development plan."
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