At the height of SA’s lockdown, the US giant Walmart provided a R4bn loan to Massmart – owner of Makro, Game and Builders Warehouse - to help it survive the crisis., Massmart CEO Mitch Slape said that the local company faced a crunch when the stringent lockdown regulation shut down its business.
Walmart – one of the world’s biggest companies, with more than 2 million employees worldwide – bought Massmart in 2010, but has since seen the value of its investment decline by 80%. Slape said that the loan confirms Walmart's commitment to Massmart. over the past six months.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Workers fired over WhatsApp Covid chats sue Discovery HealthDiscovery Health has been accused of unhealthy labour practices after firing 10 employees for badmouthing the company in a WhatsApp group during the lockdown.
Source: SundayTimesZA - 🏆 47. / 51 Read more »
Advice for buyers and sellers as property market kicks into gearThe middle of a pandemic may not feel like a natural time for a property uptick, but real estate agents around the country are reporting record sales since lockdown restrictions were lifted.
Source: IOL - 🏆 46. / 51 Read more »