Finweek English Edition - - INVESTMENT -

The Mass­mart re­sults were still full of the costs of the Walmart deal, which has left share­hold­ers some R500m poorer in to­tal, and as al­ways the merger be­tween the two is tak­ing a lot longer than promised. Fur­ther, the mas­sively dis­counted prices con­sumers had hoped for haven’t really ma­te­ri­alised ei­ther but we are see­ing the signs of a com­pany pre­par­ing it­self to ven­ture into Africa in a big way. It has been open­ing new distri­bu­tion cen­tres, which are ex­pen­sive to set up but pay huge re­wards when the ef­fi­cien­cies kick in and many of th­ese new distri­bu­tion cen­tres are clearly de­signed to sup­ply Africa.

Mass­mart Hold­ings

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