Deals
Billionaire Wiese Targets Nigeria as Wal-Mart Enters Africa
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South Africa’s biggest clothing company, Pepkor Ltd., plans to expand into Nigeria as retailers including Wal-Mart Stores Inc. fight for a share of some of the world’s fastest growing retail markets.
“Africa is awakening,” Pepkor Chairman Christo Wiese said in an interview in Cape Town on Aug. 10. “It’s a huge market of almost a billion people with huge resources and a young population. People spend when they’re young.”