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Cape Town - The proposed deal between Walmart and South Africa's Massmart Holdings (MSM) should support local procurement and job creation in South Africa, Economic Development Minister Ebrahim Patel said on Tuesday.
Patel said his department is in talks with both the US retailer and South African unions which oppose the deal.
Walmart has bid for a controlling stake in Massmart, but still requires approval from the Competition Tribunal. The Competition Commission has approved the deal with no conditions.
"What we would be seeking to ensure is that there is strong local procurement, that the South African supply base is supported and that our capacity to create jobs locally is highlighted and this is what the conversation with Walmart is about," Patel told reporters.
Patel said his department is in talks with both the US retailer and South African unions which oppose the deal.
Walmart has bid for a controlling stake in Massmart, but still requires approval from the Competition Tribunal. The Competition Commission has approved the deal with no conditions.
"What we would be seeking to ensure is that there is strong local procurement, that the South African supply base is supported and that our capacity to create jobs locally is highlighted and this is what the conversation with Walmart is about," Patel told reporters.
