Report: Wal-Mart unit eyes Africa expansion

Bentonville, Ark. – Wal-Mart’s South African subsidiary Massmart Holdings Ltd. is reportedly considering expanding into Kenya. According to an article in Bloomberg, Kenyan news outlets are reporting that Massmart executives have met with representatives of major Kenyan retail chains including Naivas Supermarket Ltd.

Naivas did not return phone calls from Bloomberg, while two other leading Kenyan retailers, Nakumatt Holdings Ltd. and Tuskys, have publicly denied they are considering selling. Wal-Mart CEO Grant Pattison acknowledged Wal-Mart’s interest in Kenya in an email to Bloomberg but declined to comment on any specific reports.

 

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