Wal-Mart Stores might try to acquire Shoprite Holdings of South Africa as a way to expand into the continent, according to Chris Gilmour, an analyst at Absa Investments. "Africa is becoming increasingly attractive as consumer spending rises and debt comes down," Gilmour said. "Shoprite has proved beyond all doubt that it can successfully operate in Africa and it has first mover advance in several African markets and from that perspective would be a good match for Wal-Mart."

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