Spar opening to boost retail sector—PTC
People’s Trading Centre (PTC), a subsidiary of dual-listed conglomerate Press Corporation Limited (PCL), has described the opening of Spar Shop at Kudya in Blantyre as a boost to the country’s retail sector.
PCL—listed on the Malawi Stock Exchange (MSE) and London Stock Exchange (LSE) as a global depository receipt—is the franchise holder of Spar brand of South Africa, which it acquired last year.
This is the second Spar -branded shop to be opened in Malawi after another one in Lilongwe, which opened its doors in August last year.
Speaking during the official opening of the shop on Wednesday, PTC chief executive officer Mathews Chikankheni observed that the opening of Spar in Blantyre demonstrates confidence that PTC group has for the retail sector in Malawi.
He said: “We know the economy is going through tough time, but we believe it will be better in the future that is why we are opening these outlets.
“We are bringing nice shopping experience to the suburbs and make sure that up-suburb communities have nearest shopping stores.”
Chikankheni said they will soon open more Spar outlets, People’s stores and Food Lovers’ stores in the country.
One of the customers from Nkolokosa Township, Esmie Mwanza, described the development as positive to the surrounding residents.
She said they have been going to either Blanyre’s central business district or the Chichiri Shopping Centre for their routine shopping.
Spar is one of the largest retailers across Southern Africa. n
