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Reuters
Published
Oct 28, 2010
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S.Africa's Woolworths looking to enter Angola

By
Reuters
Published
Oct 28, 2010

(Reuters) - Woolworths (WHLJ.J) plans to enter oil-rich Angola as the premium South African food and clothing retailer looks to bolster its presence in other poor but fast-growing African markets.

Woolworths
Michael Luscombe, Managing Director and CEO of Woolworths Limited announces the company's full year results on 26 August 2010.

"We should be stronger in Africa. We've taken a strategic view to build our businesses in Africa," outgoing chief executive Simon Susman told Reuters.

Susman also said the Cape Town-based company was seeing increased sales of food and clothing since July but sale growth was still lower than 4-5 years ago.

(Reporting by Tiisetso Motsoeneng; Editing by Gugulakhe Lourie)

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