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Johannesburg - South African retailer Woolworths Holdings
[JSE:WHL] said on Friday it plans to open 16 new outlets in Africa this
financial year, bringing total shops on the continent to 60 units.
Woolworths said in a statement it had formed a joint venture
in Tanzania and Uganda and was planning to open three more stores in the east
African countries by the end of the financial year.
Woolworths, which has a presence in 10 African countries,
said it also intends to open stores in Nigeria and Angola.
The retailer said it will focus on joint ventures with local partners in Africa, rather than its previous franchise model.
