Sanday Chongo Kabange in BERLIN, Germany
Global retailer giant, Walmart Stores is to commence operations in Zambia this August.
The world’s largest retailer had early this year applied to Zambia’s Competition and Consumer Protection Commission to buy South Africa’s Massmart Holdings Limited’s operations in that country.
Johannesburg-based Massmart Holdings Limited operates Game Stores in Zambia as well as Makro and Builders Warehouse in South Africa.
Close contacts in Lusaka have indicated Thursday July, 14, 2011 that Zambia’s Competition and Consumer Protection Commission has offered a green light to Walmart to start operating in Zambia effective August 2011.
The move follows a recent decision taken by South Africa’s Competition Tribunal to approve Walmart’s plan to buy a 51% stake in Massmart Holdings Limited.
Walmart Stores has since moved into South Africa with the official approval of it US$2.4 billion takeover of Massmart.
The next similar move is to set base in Zambia in August.
It has been learnt that the decision to allow Walmart into Zambia was unanimously agreed by the Zambia Competition and Consumer Protection Commission after extensive consultations with the officials from the Ministry of Commerce, Trade and Industry.
Walmart’s entry into South Africa and subsequently Zambia is to help boost its international sales and shove-off its poor employment record, which has seen it face severe operational resistance in New York and other cities around the world.
Wal-Mart is the world’s largest employer with 2.1 million workers.
The move to allow Walmart operations in Zambia marks yet another phase in the number of international companies operating in the southern African nation.