Walmart puts its name on the line for a reset in South Africa

WALMART wants another shot at cracking the Africa market. This time, it's staking its name on it.

- BLOOMBERG

About 15 years after the world's largest retailer got a foothold on the continent with the purchase of a controlling stake in South Africa's top food and household goods seller Massmart, its failure to gain ground is prompting a change in approach. The company - which sells everything from fashion and fishing rods to frozen peas and prescription medicines - is opening its first Walmart branded stores in the country this year in what could become a model for a continent with the planet's fastest-growing population.

The retailer, which has had success with branded stores in emerging markets like Mexico and China, is banking on its famed low prices to lure cost-conscious shoppers in the intensely competitive South African market. Many shoppers in the country know the Walmart name and expect the new stores to offer cheaper, good quality products.