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Seeking Alpha has a story about how Walmart's African subsidiary, Massmart, has shown sub par performance since a majority share in the chain was acquired by Walmart in 2001. The chain has shown disappointing sales growth at the same time as its biggest competitor, Shoprite Holdings, has seen sales increases.

The story says that "the relatively tough time at Massmart can in part be attributed to the challenging South African retail environment. Africa, excluding South-Africa, represents only a very small portion of Massmart's total revenue and it's essentially a South African retailer whilst its closest competitor Shoprite has far greater exposure to the rest of Africa.

"Walmart will probably not yet consider selling its African unit but may do so if the results do not improve."
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