MASSMART - EXTENDS AFRICAN REACH WITH OPENING OF US $ 7.5 MILLION GAME STORE IN
KAMPALA, UGANDA
Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1940/014066/06)
(Share code: MSM)
(ISIN: ZAE000029534)
(`Massmart`)
Press Release
MASSMART EXTENDS AFRICAN REACH WITH OPENING OF US $ 7.5 MILLION GAME STORE IN
KAMPALA, UGANDA
Massmart, South Africa`s third largest distributor of consumer goods, the leader
in general merchandise and liquor and the third largest in food, today announced
the next step in fulfilling its African strategy by opening a new US$7.5 million
Game Store in Kampala, Uganda, making it the ninth country in which it now
operates.
Commenting on the opening, Mark Lamberti, Massmart CEO, said:
`The opening of this Game Store extends and complements our African growth
strategy. Game`s offering of a broad range of general merchandise at discounted
prices is very well received in African markets that have traditionally been
underserved.`
The project has run very smoothly and the Kampala store is set to make history
as the fastest developed outlet the 56-store Game chain has established since
its inception 34 years ago.
`Considering that landlocked Uganda is further away from Game`s head office and
operational nerve centre in Durban than any of our other stores in Africa, our
specialist store development team, supported by the brand new store team in
Kampala, have done a brilliant job in the face of major logistical challenges,`
added Lamberti.
Game Kampala will offer 45 000 line items of products. The merchandise mix is
specifically designed to meet all of the non-food requirements of Ugandan
households.
In a move that clearly underlines its confidence in Uganda and its consumer
market, the new Game store in Kampala is Game`s first ever direct investment in
the premises from which it trades. All of the chains other 55 stores in Africa
operate from leased premises.
Issued by:
Brunswick SA (011) 268 5750
Please contact the following with any queries:
Roderick Cameron : 082 887 4593
Taryn Proksch : 083 273 1301
24 June 2004
Johannesburg
Sponsor to Massmart:
Deutsche Securities (SA) (Proprietary) Limited
Date: 24/06/2004 09:00:11 AM
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