Pick n Pay to enter more African markets
South Africa's second largest food retailer, Pick n Pay will enter the Democratic Republic of Congo (DRC) and Malawi in the next 12 months, according to its Chairman.
"We are busy looking at the DRC and Malawi," said Gareth Ackerman. Speaking at a Reuters Africa Investment Summit, he said "We've got three more stores planned over the next year into those markets."
Pick n Pay already has around 94 stores in African countries outside South Africa and aims to expand into markets where it already has a presence such as Zambia, Mauritius and Zimbabwe.
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"For us to double the number of stores in the rest of Africa in the next five to 10 years is absolutely conceivable. We just don't have plans for it yet," he said.
After Walmart’s controversial buyout of Massmart for $2.4 billion, Pick n Pay is said to be a retailer likely to attract offers from global grocers such as Tesco, Metro and Carrefour.
"With Wal-Mart having entered South Africa, most of the big global retailers have been out here to have a look and see why did they come?" Ackerman added.
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