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Massmart Shows 5.5% Sales Growth In South Africa

Massmart Shows 5.5% Sales Growth In South Africa

Massmart Holdings, South Africa’s biggest food and goods wholesaler, said sales grew by  5.5 percent in the first half of 2013, according to a report in Independent Online.

U.S.-based Walmart has a controlling stake in Massmart.

Massmart showed a 7.3 percent rise in sales in the second half of 2012.

Massmart brands include Makro and do-it-yourself specialist Builders Warehouse.

South African retail sales growth slowed to 1.9 percent in April as rising unemployment curbed consumer spending, according to Independent Online.

Unemployment rose to 25.2 percent in the first quarter from 24.9 percent the previous quarter as the number of working-age people grew and jobs were cut in retail, finance and construction industries.

In the first quarter of 2013, South Africa’s economy grew at its slowest pace since 2009.