Conclusion

We have concluded an historic year in Massmart, delivering solid results in a difficult environment. The process of integration with Walmart has just begun, but there is certainly plenty of medium- and long-term opportunity to save people money so they can live better on the African continent.

We would like to thank all our Massmart colleagues, our external advisors, our suppliers and, most importantly, our loyal customers for their unwavering dedication and service this year.