Wednesday, September 29, 2010

The Christian Science Monitor: Wal-Mart could lead corporate America into Africa

Wal-Mart has announced that it is prepared to pay approximately $4.2 billion for Massmart Holdings. Massmart Holdings is a Johannesburg-headquartered chain of discount superstores with a grand total of 290 stores in 13 African countries under brand names such as Makro, Game, and Builders Warehouse. Massmart stores can be found as far away as Ghana and Nigeria and there are stores even in President Mugabe's Zimbabwe.

For quite some time, I have felt that corporate America was missing the Africa story. Like tourists frightened off by rumors of lions prowling the city streets of Nairobi or Lagos, America’s corporate sector has been bamboozled and bogged down in an old African landscape where the only opportunities are to be found in digging up raw materials, and the greatest challenges are with intractable or corrupt government bureaucrats. To be sure, that African landscape still exists, both in mind and in reality. Read More...

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