Wal-Mart Stores Inc. (WMT) can’t fire workers at its Namibian operations for two years as part of the conditions for approval of its purchase of a controlling stake in Massmart Holdings Ltd. (MSM), Trade Minister Hage Geingob said.
The company should honor labor agreements that are currently in place and must, within a year, set up a local supplier development plan, Geingob told reporters today in Windhoek, the capital.
Wal-Mart had opposed conditions set by the southern African nation’s antitrust body for the deal. The country’s High Court ruled in November the minister should review the matter.
To contact the reporter on this story: Chamwe Kaira in Windhoek at firstname.lastname@example.org
To contact the editor responsible for this story: Gordon Bell at email@example.com