Government says Walmart’s entry into SA shows strong investor confidence

The South African government says Walmart’s decision to invest shows that foreign markets view the local economy with optimism.

The US retail giant announced on 9 September that it will open its branded stores in South Africa this October.

Walmart announced after hosting its first growth summit in South Africa in April.

GOVERNMENT EMBRACES WALMART IN SA AS AN INVESTOR

The South African government released a statement on Tuesday welcoming the launch and expressing enthusiasm about the development.

Deputy spokesperson William Baloyi said Walmart’s entry into South Africa shows that foreign markets still believe in the country’s economic trajectory.

He added that South Africa continues to stand as a reliable investment destination.

WALMART PARTNERS WITH LOCAL SUPPLIERS AND ENTREPRENEURS

Walmart recently held its first growth summit, where it invited 12 African countries to engage and explore potential partnerships.

Following the summit, the global giant announced that it will work with South African suppliers and entrepreneurs to produce supplies for the stores.

Developers are already working on sites across the country, but officials will only announce the dates in October 2025.

WHAT DOES WALMART IN SA MEAN FOR SOUTH AFRICA?

The South African government says this will create jobs and contribute to South Africa’s economic growth, aligning with the government of national unity’s key priorities.

“Walmart will bring its signature Every Day Low Prices and global standards to the market, while celebrating the country’s rich culture,” said the global retailer’s President and CEO, Kath McLay.

Since 2011, the global brand has owned a majority stake in Africa’s retail and wholesale group, Massmart.

South African brands like Marko, Game, Jumbo and Builders form part of the wholesale group.

“By listening and working together, we aim to build lasting relationships and deliver a delightful shopping experience that reflects the needs and aspirations of South Africans,” added Massmart president and CEO, Miles van Rensburg.