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  • Finweek - English

    Simon’s stock tips

    Sep 10, 2021 5 minutes
    By Simon Brown

    MASSMART

    Offloading and buying

    Massmart announced it’s in negotiations to buy a controlling stake in OneCart, thereby giving indications as to its longer-term strategy. Parent company Walmart competes toe-to-toe with Amazon in the US, and they have a majority stake in Indian Flipkart which Walmart acquired control of in 2018. Clearly Massmart is focusing on online retail locally and Walmart will be able to provide strong tech and insights which, coupled with OneCart, could see the company become a meaningful player in the still fledgling online retail space in South Africa.

    Staying with Massmart, the company has thrown in the towel on some lower-margin businesses as it is selling Cambridge Food, Rhino and Massfresh to Shoprite*. The deal is worth R1.4bn, which Massmart will use to pay down debt and which

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