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