The South African government says Walmart’s decision to invest in South Africa reflects foreign markets optimistic view of the local markets.
The United States retail giant announced on 9 September that it will open its branded stores in South Africa in October.
The announcement follows Walmart’s first growth summit held in South Africa in April this year.
GOVERNMENT EMBRACES WALMART IN SA AS AN INVESTOR
The South African government released a statement yesterday (9 September), welcoming the launch and expressing its enthusiasm about the development.
The government’s deputy spokesperson, William Baloyi, stated that Walmart in SA demonstrates that foreign markets still believe in the country’s economic trajectory.
Baloyi further said South Africa remains a reliable investment destination.
WALMART PARTNERS WITH LOCAL SUPPLIERS AND ENTREPRENEURS
Walmart recently held its first growth summit, inviting 12 countries across the continent to engaged and explore possible partnerships.
Following the summit, the global giant announced that it will work with South African suppliers and entrepreneurs to produce supplies for the stores.
Moreover, sites are already in development across the country, with official dates still to be announced in October 2025.
WHAT DOES WALMART IN SA MEAN FOR SOUTH AFRICA?
The South African government says this will create jobs and contribute to South Africa’s economic growth, aligning with the government of national unity’s key priorities.
“Walmart will bring its signature Every Day Low Prices and global standards to the market, while celebrating the country’s rich culture,” said the global retailer’s President and CEO, Kath McLay.
Since 2011, the global brand has owned a majority stake in Africa’s retail and wholesale group, Massmart.
South African brands like Marko, Game, Jumbo and Builders form part of the wholesale group.
“By listening and working together, we aim to build lasting relationships and deliver a delightful shopping experience that reflects the needs and aspirations of South Africans,” added Massmart president and CEO, Miles van Rensburg.
Do you think the global retail giant will offer something different to the South African market?
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