Customers outside a Makro megastore in Cape Town, South Africa. Walmart has bought out the remaining shares in the group's retail wholesaler parent Massmart. Photograph: Gianluigi Guercia/AFP via Getty ImagesWalmart plans to take Massmart Holdings private and will promote the unit’s chief operating officer to head of the company as it prepares to renew its focus on South Africa.
Walmart is preparing for increased competition amid press reports that Amazon.com is planning to expand into Africa’s most industrialised nation. Taking Massmart private may help Walmart cut costs and invest in the company that owns brands including Makro and Builders without the scrutiny that comes with being a public company.
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Walmart takes Massmart private to revive South African businessRetail giant moves to gain full control ahead of expected market battle with Amazon
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