Copper blue
Apr 22 2010
Retail Wrap >>

The Boys in Blue have come up with a different approach to going large in Africa it seems, with the announcement this week that Pick n Pay Zambia (Ltd), incorporated in July 2009, has plans to open seven stores in the first five years of operations, creating an expected 1000 jobs, and an envisaged total of 13 stores in ten years. Pick n Pay have signed a US$27million Investment Promotion and Protection Agreement with the Zambia Development Agency for the opening of the seven phase 1 stores. Pick n Pay, you will remember, currently owns three sites in Zambia, which seems to be on a major drive to attract investment at the moment.

Source: www.tradeintelligence.co.za, 9 April 2010