Mission, vision and investment proposition
Massmart is a managed portfolio of four Divisions, each focused on high-volume, low-margin, low-cost distribution of mainly branded consumer goods for cash, through 392 stores in 12 countries in sub-Saharan Africa. We are a South African retailer and wholesale distributor, with 359 stores in South Africa and 33 stores in other countries in sub-Saharan Africa.

Our mission

Massmart is a South African-based, globally competitive, regionally managed Group, invested in a portfolio of differentiated, complementary, focused wholesale and retail formats, each reliant on high volumes and operational excellence as the foundation of price leadership, in the distribution of mainly branded consumer goods for cash.
The Group actively seeks the continual improvement of performance in the portfolio and its parts, through strategic and structural clarity, high market shares, excellent management, principle-driven ethical leadership, cost-effective technology and the sharing or agglomeration of capabilities, knowledge, resources, influence and information.
To this end, thought-leadership, individual and collective performance, and collaboration throughout the Group are appropriately rewarded,  with executive management incentivised predominantly on Group performance.



Our vision

Our customers…
…will regard Massmart’s wholesale and retail formats as their first choice when buying those categories of merchandise offered by these formats;

Our community…
…including Government, will regard Massmart as a socially accountable corporation;


Our employees…
…will regard Massmart as the preferred employer in the retail industry;

Our investors…
…will regard Massmart as a portfolio rendering superior returns relative to the JSE Retail sector; and

Our suppliers…
…will regard Massmart as a valued partner in accessing and understanding their end-consumers.

Our Board…
…is responsible for directing the Group towards the achievement of the Massmart vision and mission and whilst doing so are also accountable to certain governance frameworks.

Our business…
…is driven by a focus to meet the expectations of all of our stakeholders. In doing so we are aware that we must embrace the requirements of the relevant governance and regulatory frameworks, as well as corporate best practice.



Our unique investment proposition

Strategic and structural clarity

  • Is achieved through four focused Divisions, each a leader in its target market and business model, where additional value is created through inter-Divisional collaboration and behaviour is aligned through short- and long-term incentives, while adhering strictly to organic and acquisitive growth criteria.

Management depth, quality and diversity

  • The 48 Group and Divisional Executives hold 76 qualifications, of which 57 are degrees; are an average age of 47; and 15% are African, Coloured or Indian.


  • Merchandise – Massmart is the second largest distributor of consumer goods in Africa, and is the leading retailer of general merchandise, liquor, home improvement and building supplies, and the leading food wholesaler;
  • Formats – trading through a variety of formats;
  • Customers – serving all mass-market consumers;
  • Geography – operating in 12 sub-Saharan African countries.

Low risk

  • Earnings underpinned by high cash generation; sensible financial leverage; and conservative through-the-cycle store opening plans.


  • Continuously improving the productivity of capital, space and labour;
  • Strengthening Supply Chain activities;
  • Up-weighting Group private label efforts;
  • Complementing store growth through targeted acquisitions and greenfield opportunities; and
  • Expansion into Food Retail through Cambridge Food, Food in Game and Makro Fresh.

Good governance

  • Board composition – two Executive and seven non-Executive directors, four of whom are independent;
  • Recognised record of good disclosure;
  • Compliant with King III and the JSE SRII;
  • Member of the Ethics Institute of Southern Africa; and
  • Founding member of the Institute of Directors.