The allure of South African retailers for foreign investors has been the promise of expansion into the rest of the continent. But, as evidenced by Woolworths abandoning its Nigerian adventures some three years ago, choosing to further its ambitions in Australia instead, that expansion has not been easy.
Now Mr Price, which along with Cape Town-based Woolworths has been the biggest benefactor of foreign investor favour, is also finding its African strategy coming under strain.
The Durban-based retailer … Read the article