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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.
May 23 2012 22:00
Economic liberation or the lack thereof is the most divisive issue in the country, according to a survey.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
Johannesburg - Massmart, South Africa's biggest general retailer, will spend about R380m in 2010 on acquisitions and opening new stores in the country, the company's chief executive said on Friday.
Massmart said it would use half of its planned R760m capital expenditure for 2010 on acquisitions and new stores and the other half on maintaining current operations, chief executive Grant Pattison told Reuters in an interview.
"We typically acquiring large independent retailers who service the lower income groups in food retail, but could not name the targets. They are all over the country and they are typically located around commuter notes," said Pattison.
Massmart, which owns the Game general merchandise stores and the Makro discount chain, said it would open a Game chain store in Malawi in October 2010 that would hopefully generate between 100-200 million rand per year in sales.
- Reuters