Metro Cash and Carry Namibia plans to launch supermarkets and fresh food stores as part of the retailer’s expansion and diversification plans, The Brief can exclusively reveal.
The development is expected to bring increased competition in the country’s retail space.
“Supermarkets are just another format of store, and we have always had this as a plan waiting for the opportune time to launch this format,” Metro Managing Director Bryan Davis said.
“We do not have a specific final number as yet; it will depend on demand for this format of stores as well as availability of suitable sites,” Davis said when quizzed on the number of outlets to be rolled out and exact locations targeted.
On the fresh store plans, the Metro MD said the retailer saw potential growth in the sector and revealed plans to open its first store at its Hyper Store in Kleine Kuppe.
“The Metro Fresh Store is an offering of the entire fresh food category which includes fruit and veg, fresh meat, bakery, hot foods, deli, etc. The store will be opening soon inside our Hyper Store in Kleine Kuppe. Fresh is certainly a potential growth point for us, it is too soon to be able to share expansion plans at this stage,” he said.
Metro, which currently operates 23 stores and employs 1,420 employees, also plans to expand its current outlets by adding six new stores before the end of the year, creating 180 additional jobs.
“We have plans to continue looking for opportunities to expand our footprint. We would rather not say at this stage which towns are being targeted, however, no towns are being excluded in our feasibility studies,” Davis said.
On the impact of the slowdown in the domestic economy and increased competition on the growth of the business, Davis said, “we are facing unprecedented tough economic times which is impacting heavily on the whole retail industry. The level of inflation on foodstuffs and services, as well as the high levels of unemployment, are resulting in a slowdown in our growth. We are however blessed to still show growth.”
Asked how the company plans to leverage the emergence of new sectors such as oil and gas and green hydrogen, the Metro MD said, “the impact of all the new projects which will hopefully be rolled out over the next number of years, will for sure create many new jobs, directly and indirectly as well as have a trickle-down effect on the economy as a whole by way of improved standard of living for many Namibians, will give us growth opportunities”.
Despite the economic challenges, Metro Cash and Carry Namibia remains optimistic about the country’s economic outlook. “We are very bullish,” declared Davis, expressing confidence in the company’s future prospects in Namibia.
