Pick n Pay signs Mozambican franchise agreement
According to Dallas Langman, head of Pick n Pay's group enterprises division, Pick n Pay plans to open its first store in March 2011.
"We have signed a Master Franchise Agreement with Retail Masters for Mozambique which will provide us with the essential benefit of expert insights into the local market," Langman said.
Opening in Maputo, the first Mozambican store will be approximately 3,000m2 in size. Pick n Pay said it envisages opening a further three stores before the end of 2011, the first four stores will open in the greater Maputo district.
"We have identified numerous opportunities for further sites and we see enormous potential in the country which we believe is considerably under-penetrated in terms of the kind of retail offering we will provide," said Langman.
"It's our intention to ensure that local farmers and suppliers are supported to stimulate and assist economic growth in Mozambique. Logistically we're using experts who deal with transportation and supply issues into Africa and currently service our Zambian operations. Naturally one of the main benefits to the local economy will be employment," added Langman.
Pick n Pay said it was fortunate in its partners to have local ownership which means it would be able to leverage highly experienced local market knowledge and expertise.
The retailer's expansion into Mozambique follows its first store opening in Zambia in July.
The group also recently announced the purchase of a further 24% of Zimbabwean operation TM Supermarkets, increasing its shareholding to 49%.
Throughout Africa, Pick n Pay currently operates one store in Zambia, with four due to open in 2011, seventeen stores in Namibia, twelve in Botswana, seven in Swaziland and one in Lesotho, together with its fifty-one-store network with TM in Zimbabwe.
Source: I-Net Bridge
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