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Clothing retailer plans expansion in Africa

02
Nov '10
'Woolworths', a food and clothing retailer in South Africa aims to enter oil-rich Angola, under its plan to focus on growth-oriented African markets.

The company targets to acquire a strong hold in Africa, which is being seen as among the rapidly developing regions in the world in next five to ten years' time.

It has developed a strategy to establish business in Africa.

Woolworths already has presence in Botswana, Kenya, Namibia and Ghana, and is looking forward to expand its existing operations in countries like Mozambique, Zambia, Ghana, Uganda and Angola.

The company is the latest retailer in the African economy to bargain for a strong position in a continent, which will house 2 billion people by the year 2050.

Fibre2fashion News Desk-India


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