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Walmart Goes All In on Africa
Livemint
·
1y ago
Medial
Walmart's renewed investment in African retail group Massmart comes after several disappointing international market forays, such as selling most of its Japanese stake in 2020 for a $2.1 billion loss. However, analysts believe the African market could be a strong bet, citing success in developing markets with growing middle classes like Mexico, Latin America, India, and China. Walmart aims to boost Massmart's e-commerce performance and overcome challenges like high mobile data costs, last-mile delivery constraints, and a competitive South African market. Walmart has increased its stake in Massmart and taken greater control of the company's operations.
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Related News
Working with suppliers to achieve target of $10B sourcing from India: Walmart CEO
YourStory
·
1m ago
Medial
Walmart aims to reach a $10 billion sourcing goal from India by 2027, focusing on categories like apparel, food, and toys. The company has made significant progress in sourcing with increased collaboration with Indian suppliers. During his India visit, Walmart CEO Doug McMillon emphasized the growth of their ecommerce platforms Flipkart and PhonePe, and highlighted Walmart Vriddhi’s role in empowering MSMEs. Walmart has sourced goods worth over $30 billion from India in the past two decades.
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Adenia Partners hits exit button on second-last bet from third fund
VCCircle
·
1y ago
Medial
Mauritius-based private equity firm Adenia Partners has made its seventh exit from its third investment vehicle, with the sale of a stake in a Ghana paint manufacturing company. This move is part of Adenia Partners' plan to exit all of its investments and conclude its third fund. The firm focuses on mid-sized businesses across Africa.
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What is driving Walmart's shift from China towards India for imports?
Livemint
·
1y ago
Medial
Multinational retail corporation Walmart is reducing its reliance on Chinese supply chains and increasing imports from India. Between January and August 2023, Walmart imported 25% of its US imports from India, up from just 2% in 2018. Growing geopolitical tensions and cost factors are driving Walmart to shift supply chains from China to countries like India, Thailand, and Vietnam. Walmart aims to import $10 billion worth of goods annually from India by 2027 and is currently sourcing products ranging from toys to pharmaceuticals from the country.
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Walmart might buy Vizio to win the fight over cheap TVs
The Verge
·
1y ago
Medial
Walmart is reportedly looking to acquire TV maker Vizio for a price tag of $2 billion, giving them a competitive edge against affordable smart TV brands like Roku and Amazon. The deal would allow Walmart access to valuable customer data collected by Vizio's smart TV platform and generate revenue through personalized ads and subscription fees. Last year, Walmart partnered with an advertising company for personalized ads on connected TVs and plans to offer shoppable ads on TVs in 2022 in collaboration with Roku.
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Tax hike on F&O, capital gains may cool down markets: Kamath
Twitter
·
1y ago
Medial
Zerodha CEO Nithin Kamath said the tax hikes on futures and options (F&O) trading and capital gains might "cool down the activity in the markets". "STT (Security Transactions Tax) on options goes up from 0.062% to 0.1%. STT on futures goes up from 0.0125% to 0.02%," he said. "We (Zerodha) collected about ₹1,500 crore of STT last year," he added.
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Walmart seeks fair play in global game, says CEO
Economic Times
·
1m ago
Medial
Walmart CEO Doug McMillon emphasized the importance of a level playing field and consistent policies across countries for the company. Amid ongoing trade negotiations between the U.S. and India, McMillon stated that Walmart aims to comply with local rules, likes buying locally, and welcomes potential changes allowing inventory holding in India. Walmart focuses on maintaining low prices and sourcing locally to manage tariffs and provide value to customers.
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Walmart is upbeat about Flipkart and PhonePe: Walmart CFO
YourStory
·
1m ago
Medial
Walmart is optimistic about Flipkart's strong growth, despite pressures on profitability due to significant investments in quick commerce. Flipkart plans to open 800 dark stores by year-end. India’s quick commerce segment constitutes about 20% of the ecommerce business, growing at 50%. Flipkart aims to hire 5,000 staff in 2025 across various sectors. Walmart CFO Rainey expresses excitement over Flipkart’s prospects and PhonePe’s upcoming IPO, highlighting India as an appealing market for Walmart.
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Bharti Airtel’s Africa unit set to bag a big cheque from offshore investor
VCCircle
·
1y ago
Medial
Airtel Africa, a subsidiary of Bharti Airtel, is expected to receive $200 million in fresh capital from an existing offshore investor. The funds will primarily be raised through debt and will provide financial support to the second-largest telecom operator in Africa. Airtel Africa is listed on the London Stock Exchange.
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BII-owned Globeleq to onboard international investor for Africa project
VCCircle
·
1y ago
Medial
Globeleq Africa Holdings, a prominent independent power producer in Africa, is planning to bring on board an international investor to develop a wind power plant in Mozambique. The UK-based company, which is majority-owned by British International Investment, focuses on developing and operating renewable energy plants in Africa. The move is expected to strengthen the company's presence in the region and accelerate clean energy development in Mozambique.
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CCI approves Google's investment in Walmart-backed Flipkart
YourStory
·
8m ago
Medial
The Competition Commission of India (CCI) has given approval for Google's investment in Flipkart. Google joined Flipkart's funding round in May, investing $350 million alongside Walmart. This investment is aimed at helping Flipkart focus on categories like Cleartrip and Shopsy, as well as new areas in fintech and quick commerce. Walmart currently holds an 80.8% stake in Flipkart and has reported strong growth in its international advertising vertical, largely driven by Flipkart. In addition, Flipkart recently appointed Walmart executive Dan Bartlett to its Board.
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