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Reaction To Establishment Of Advisory Panel Announced By Economic Development Minister Ebrahim Patel

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Massmart supports the principle of broad engagement in decisions that affect diverse stakeholder interests. In this context the advisory panel announced by Minister Ebrahim Patel, to identify the potential economic implications associated with the non-binding expression of interest by Wal-Mart, serves an important purpose.

Any firm offer from Walmart will be subject to rigorous regulatory scrutiny that includes an independent investigation by the Competition Commission, and a public hearing before the Competition Tribunal, all of which present opportunities for interested parties to air their views. It is clearly in the public interest that these processes should benefit from well-informed perspectives that facilitate constructive discussion.

We are optimistic that diligent consideration of the facts will reinforce Massmart’s perspective that a successful transaction would be good for the South African consumer.

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