Business / Companies
Massmart forced to sell Makro to meet Zimbabwe laws
25 Aug 2011 at 09:32hrs | Views
The South African unit of Wal-Mart, Massmart, said on Thursday it had been forced to sell its sole Makro store in Zimbabwe to meet Zimbabwe's indigenisation laws.
"It was sad, but indigenisation law effectively says foreigners are not welcome in Zimbabwe," Massmart's chief executive officer Grant Pattison said at the company's results presentation.
"It was sad, but indigenisation law effectively says foreigners are not welcome in Zimbabwe," Massmart's chief executive officer Grant Pattison said at the company's results presentation.
Source - Massmart
