Massmart expands

WHOLESALER Massmart said yesterday it has bought a Namibian hardware retailer for an undisclosed amount, as part of its strategy to expand further into Africa.

WHOLESALER Massmart said yesterday it has bought a Namibian hardware retailer for an undisclosed amount, as part of its strategy to expand further into Africa.

Massmart, which operates in 14 countries in Africa including Botswana and Nigeria, said that Namibia's competition watchdog had approved its acquisition of unlisted Pupkewitz Megabuild.

Pupkewitz Megabuild operates 16 stores in the southern African country, employing just over 600 people.

Massmart is also targeting new countries such as Ivory Coast, Senegal and Angola.

Shares of Massmart were up 2,2percent, outperforming Joburg's All-Share index, which was flat. - Reuters

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