CCA President Stephen Hayes announced on December 15 that Walmart has become a member of CCA, joining other retail giants that are expanding operations in Africa. The announcement came a few weeks after Walmart announced its intention to purchase South African retail giant Massmart Holdings Ltd., which has a presence in 14 African countries. "CCA has been working with Walmart to provide them with our perspectives about doing business in Africa", said Hayes. "We are thrilled that these efforts have borne fruit, and that Walmart is now poised to be an active member of CCA."
Walmart International CEO Doug McMillion said, "The more we learn about South Africa and the surrounding countries the more we are convinced that this is an important region with attractive growth characteristics." Walmart's decision to join CCA coincides with similar moves in 2010 by Colgate-Palmolive and Procter & Gamble. Hayes observed that the entry of Walmart into Africa and increased activity on the continent by Colgate-Palmolive and Procter & Gamble are very good harbingers for U.S. investment and economic relations with Africa.
About The Corporate Council on Africa
Established in 1993, The Corporate Council on Africa is a nonpartisan 501 (c) (3) membership organization of nearly 180 U.S. companies dedicated to strengthening the commercial relationship between the U.S. and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa. The organization is dedicated to bringing together potential business partners and to showcase business opportunities on the continent.
CONTACT: Rashida Petersen
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