Wal-Mart committed to BEE in South Africa by Ray Dinning, international tax lawyer

Wal-Mart is joining the “Century of Africa” (Toronto Globe) by entering the SA Market.  Ray Dinning, a tax lawyer who has been working with US businesses and nonprofits in entering the South African market since 1994, said, “Wal-Mart’s commitment to BEE (broad based black empowerment enterprise) is an excellent first step in entering the African market.  So many people are in need of job skills training, social enterprise, micro finance and social ventures in South Africa that Wal-Mart’s entry into Africa will truly promote community sustainability.”

Andy Bond, Executive Vice President with responsibility for Walmart’s operations in the region, including the United Kingdom and Africa, said, “South Africa presents a compelling growth opportunity for Walmart and offers a platform for growth and expansion in other African countries. South Africa possesses attractive market dynamics, favorable demographic trends and a growing economy. We are fully aware and supportive of Massmart’s Broad Based Black Economic Empowerment (BEE) program, and if the transaction is completed, we expect to continue and build on these efforts, working diligently with appropriate parties to grow skills and socio-economic development, and to be a corporate and retail role model. We also look forward to moving towards a deal with Massmart to offer their associates enhanced opportunities to grow and prosper.”


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