wall mart in or out?

So walmart is coming to south africa? how well do we know them?

Wall-mart stores branded as walmart before then, is sn american multinationl retailer corporation that runs chains of large discount department stores and warehouse stores. the company is the worlds 18th largest public corporation.

 

Before being cleared by South Africa's authority the operation suffered ample resistance from the local groups especially from south afrivan commercial, catering , allied workers union that feared the mentioned purchase would present important job losses and respective declines in local manufacturing and production.
Given the opposing views and relatively pacific protests of local unions and the high rate of unemployment (close to 25% according to official figures, but 40% unofficially, South Africa’s antitrust commission approved the takeover, imposing some general conditions to protect local jobs: no job cuts will be conducted for two years after the takeover, existing labour agreements will be honoured for the next three years (the South African Commercial, Catering and Allied Workers’ Union will remain as the firm’s main bargaining partner) and US$ 14.6 million will be oriented towards creating a fund to develop local suppliers. Even after these conditions were established, some union leaders manifested their discontent, stating that there was no guarantee that Walmart was going to respect

South Africa's competition regularor will announce its decision on walmart retailer 2.4 billionn bid for local retailer massmart holdings. the reason for the decision will be released within 20 working hours . walmarts bid to 51% stake in south African discount retailer is seen as a test case for major foreign investments in Sout Africa. some government pfficilas and powerful unions have lined up agaisnt the deal, pleading with regulators to impose the procurement and a freeze on job cuts.The government and unions are concerned about Walmart's global supply network which, they say, could lead to a flood of cheap imports, sparking job losses and squeeze local suppliers. walmart has volunteered to secure jobs for two years and sppend 100 million to develop suppliers.


 walmart is going to be a very big competition in south africa but the question is are we as south africans ready wil it boost the economy or will foreign investors gain more?