Dek: Following Walmart’s decision to take full ownership of Massmart, any suggestion that the retailer could back out of its African venture has been effectively shut down, and it’s now apparent that the U.S. retail giant is deeply invested in doing business on the continent....
Today in Europe, the Middle East and Africa (EMEA) news, Walmart has announced that it is acquiring the remaining shares in South Africa’s Massmart, while Irish blockchain company FixxFi launched its embedded finance solution for the auto and home repair industries. Walmart to Delist Africa’s...
Walmart has struck a deal to fully acquire Massmart and purchase the shares it doesn’t already own for 62 rand ($3.65) each, with the deal also delisting the African retailer from the Johannesburg Stock Exchange (JSE) if approved. “This Potential Offer, if finalized, is a...
In today’s top news from Europe, the Middle East and Africa (EMEA), South African retailer Massmart struggles to stay afloat, and financial institution Mashreq unveils a business service platform for small- to medium-sized businesses. Walmart-Owned Massmart Can’t Overcome Pandemic, Inflation, Other Hurdles With Walmart set...
September 11, 2023
Walmart has reportedly renewed its commitment to Africa by increasing its online efforts at South African retailer Massmart. Walmart initially acquired a controlling stake in Massmart over a decade ago, to capitalize on Africa’s rapidly growing consumer market, The Wall Street Journal (WSJ) reported Monday (Sept. 11). However, various challenges, including a commodities crash in […]
August 29, 2022
Walmart has struck a deal to fully acquire Massmart and purchase the shares it doesn’t already own for 62 rand ($3.65) each, with the deal also delisting the African retailer...
August 02, 2022
Walmart-owned South African retailer Massmart is struggling to overcome ongoing restrictions and lockdowns related to the continuing spread of COVID-19 across the region, according to a Tuesday (Aug. 2) press...
February 18, 2022
Mastercard recently teamed up with retail group Massmart to help small, medium-sized and micro-enterprises (SMMEs) in South Africa find digital commerce solutions, according to a Mastercard announcement Thursday (Feb. 17)....
