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.
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