Johannesburg - SA discount retailer Massmart Holdings [JSE:MSM] aims to open 20 food stores in the next three years and has its eye on Angola and other new markets in Africa, its CEO Grant Pattison said on Thursday.
Pattison told reporters on a conference call the company is looking to enter oil-rich Angola, as well as the Democratic Republic of Congo, Senegal, Lesotho and Cameroon.
"We've currently got about a R4bn food retail business .... Over the next three years we will open 20 stores," said Pattison, adding that he hoped to get business to "between R6bn to R7bn".
US retailer Walmart has bid for 51% of Massmart, although the deal still requires approval from South African competition authorities.