Posted by Mark J. Miller on March 27, 2012 11:55 AM
Walmart currently has 2.1 million employees and it may be looking for some more soon in an unlikely place: Ethiopia.
While the country is the second most populated in Africa, it’s never been known for having scads of money floating around, but that’s not stopping Walmart from considering it as a place in need of its retail wonders.
Ethiosports.com reports that the mega-retailer and “the Ethiopian government are conducting negotiations on the question of the former entering the Ethiopian market.” A delegation from Ethiopia met with Walmart reps this past weekend in Washington, D.C., the site adds.
The word from 2merkato.com is that Ethiopia “has been considering (giving invitations to) multinational corporations that are experienced in wholesale distribution.” The country has sent a group of experts to India to see how that country brought multinational companies into its borders, the site notes.
The hope, according to 2merkato, is that introducing Walmart into the Ethiopian marketplace and to possibly take over the Merchandise Wholesale and Import Trade Enterprise there can help control inflation rates, “which rose again to 36.3% in February from 32% in January.”
Just like Sam Walton imagined: Walmart to the rescue.