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Pick n Pay invests $14 million on Zimbabwe expansion

by Staff reporter
09 Oct 2014 at 08:10hrs | Views

South African retail giant Pick n Pay has so far invested about $14 million on expansion and upgrading its operations in Zimbabwe.

The retail group through its partnership with TM Supermarkets, a subsidiary of Meikles Limited, secured about $25 million from Standard Chartered Bank to upgrade the existing chain to international standards.

The Pick n Pay representative Dharmalingum Dass, who commented on behalf of TM supermarkets finance director Onias Makamba, said so far have spent about $14 million on expansion and the delay on the opening of Greatermans Pick n Pay has been centred on the that fact when dealing with the city council you have to do various applications, so the process is still going on.

Pick n Pay is opening more branches as the group seeks to expand and consolidate its market share in Zimbabwe.

Source - The Herald