Pick n Pay Stores Ltd., a South African supermarket chain, will open its shops in Malawi in the next 12 months, its chairman said.
“We are busy looking at the DRC and Malawi,” Gareth Ackerman told a Reuters Africa Investment Summit. “We’ve got three more stores planned over the next year into those markets.”
Ackerman said Pick n Pay, which has about 94 stores in African countries outside South Africa, would be expanding more in markets where it already has operations, which include Zambia, Mauritius and Zimbabwe.
“For us to double the number of stores in the rest of Africa in the next five to 10 years is absolutely conceivable. We just don’t have plans for it yet,” he told the Summit.
Ackerman said Pick n Pay had no immediate plans to set up in Nigeria because the continent’s most populous country was too far from its existing businesses and distribution networks in southern Africa.