Massmart Massing it in the Mara
Last week we glossed over, broadly hinted at and subtly alluded to Massmart’s interest in the Kenyan market, sparing you the details. In hindsight, we could have been a little less obtuse, something of which we have on occasion been accused. Turns out Massmart have been having words with Naivas, a family-owned outfit with 28 East African stores, about the acquisition of either 50% plus one of its shares, or 67% of them, depending on whom you talk to, as a bridgehead into the burgeoning market in that neck of the bundu. While a feud in the family has as we reported stalled things a bit, there seems to be a fairly good chance of things going ahead, although young Mr Pattison isn’t saying one way or the other.
Comment: Burgeon, you will no doubt be as gratified to learn as we were, comes from the Latin noun burra, a shaggy cloth no doubt used to wipe down the old mensa. And you thought we were obtuse.