South Africa's Woolworths plans expansion in East Africa.

By bne IntelliNews September 15, 2011
South African retail chain Woolworths said it would form a joint venture in Tanzania and Uganda. The joint venture is part of Woolworths plans to accelerate its expansion into Africa, the company said in a statement. At present, Woolworths has one store in Uganda and three stores in Tanzania. The company, which sells clothing, food and beauty products, will add another store in Uganda and another two in Tanzania by the end of 2011. Woolworths aims to open 16 stores in African countries this year taking the total number of stores to 60 in the current financial year. The new stores will be larger than current ones. Retail space will increase by 42% in the current financial year and by an estimated 145% over the next three years, the company said. Woolworths has had a presence in African countries for over 10 years and currently has stores in the following 10 countries: Botswana, Namibia, Lesotho, Swaziland, Ghana, Kenya, Tanzania, Uganda, Zambia and Mozambique. The company intends to open stores in Nigeria and Angola.
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