date:Oct 21, 2013
ble land and high valuations are hindering South African retailers' ambitions to spread their wings around the rest of Africa.
Naivas chairman Simon Mukuha had said in August they were looking to sell a majority stake, 50 percent plus one share, to Massmart, to bring in fresh blood and ideas. We are fattening our cow. As and when we are ready we will do that (sell) but as it is now we are not, Gilbert Mwangi, the administration manager at Naivas, told Reuters. They (talks with Massmart) are off