Wallmart bought a big chunk of Massmart for over 15 billion Rand, but the unions, always eager to screw up our economy tried their best to stop the deal from happening.
Sure Wallmart will change things a little, and I have no doubt they will be importing things, but it is up to us as a nation to try our best to be more competitive.
I read a brilliant post by Simon Williamson where he listed all the companies we use, every single day, from banking to fast food and so on. All of those are foreign owned companies, all of them create jobs and, (more importantly), are profitable companies.
The unions probably moaned because they didn’t get their usual cut in the deal or something. I wonder why they are not boycotting Coca cola, KFC, Sony. I am well aware of the ruthless reputation of Wallmart, I have no doubt they will ruffle a few feathers, but that’s not a good enough reason, (I think), to throw your toys out of the cot and shout yourself in the foot.
They are now threatening industrial action(s) because they lost, (the competition tribunal approved the deal). This will send a clear message to investors to avoid South Africa at all costs.
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