Walmart loaned Makro, Game owner R4 billion during lockdown – report | BISouthAfrica
At the height of SA’s lockdown, the US giant Walmart provided a R4bn loan to Massmart – owner of Makro, Game and Builders Warehouse - to help it survive the crisis., Massmart CEO Mitch Slape said that the local company faced a crunch when the stringent lockdown regulation shut down its business.
Walmart – one of the world’s biggest companies, with more than 2 million employees worldwide – bought Massmart in 2010, but has since seen the value of its investment decline by 80%. Slape said that the loan confirms Walmart's commitment to Massmart. over the past six months.
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