Hello Nigeria, Angola...Hello Africa! Wal-Mart is coming to a city near you!

According to the Wall Street Journal, Massmart, the local arm of Wal-Mart in South Africa aims for 90 new outlets across sub-Saharan Africa over the next three years, as the group targets growing markets like Nigeria and Angola.

With focus on fresh food growth, the group plan on opening a stand-alone food store in West Africa as a trial by the end of the year with hopes of expanding to East Africa. The group is also adding more brands from Wal-Mart stores in other parts of the world to its African operations, including a clothing line from the U.K. in November.

Wal-Mart last year closed a deal worth roughly $2.4 billion to buy 51% of Massmart, a move many saw as a springboard for Wal-Mart to grow across the continent.

Wal-mart isn't the only company eyeing a possible expansion in Africa. There's been an increased focus on the African market by companies from the U.S., China and India have been pouring billions of dollars into the continent to tap new consumers and infrastructure deals.

Driving the interest are forecasts for strong growth. By 2018, five of the world's fastest-growing economies will be in sub-Saharan Africa, according to the International Monetary Fund.

Last month, General Electric (GE) signed an agreement to build a 400-megawatt gas-fired power plant in Tanzania. Ford Motor said it's formulating a new strategy to target consumers in the rest of the continent with tailor made products. And this week Kenya said it had signed agreements worth $5 billion with China for projects including railway and energy development.

Massmart currently operates in 12 countries in sub-Saharan Africa with 359 stores.

What's in it for Africans?

With business leaders (especially retailers of fast-moving consumer goods) excited about the potentially huge African market, can Africa (especially Nigeria) cease this moment to turn a growing population into a richer society with higher living standards? These are some of the questions InfoNubia would like you to ponder upon and respond in the comment section.

http://www.infonubia.com/2013/08/wal-mart-plans-to-open-90-more-stores.html

This will render our local market men And women jobless
Walmart has killed off smaller retailers in places and will close down markets and any competitors
This is not a good move
They are a mega corporation and can afford to buy in enormous quantities ,lower prices and edge off mama Chibuike and mama Funke selling ugu in the market making small change
Go to small town America and see what they did to mom and pop grocery stores

babyosisi: This will render our local market men Ad women jobless
Walmart has killed off smaller retailers and will close down markets
This is not a good move

One of the effects of capitalism.

babyosisi: This will render our local market men And women jobless
Walmart has killed off smaller retailers in places and will close down markets and any competitors
They are a mega corporation and can afford to buy in enormous quantities ,lower prices and edge off mama Chibuike and mama Funke selling ugu in the market making small change

But don't we already have walmart-like stores in Nigeria? Well, maybe not as aggressive as Walmart.

prymesolution:
One of the effects of capitalism.

Tell me about it

babyosisi:

Tell me about it

Do most Nigerians share the same sentiments?