Wal-Mart’s purchase of Massmart was approved by South Africa’s Competition Tribunal subject to the companies promising to refrain from firing employees for two years and setting up a R100 million fund to assist local suppliers and manufacturers. Three experts - Stiglitz, James Hodge and University of Cape Town's Prof Mike Morris - were asked to make specific recommendations on the mandate and conditions of the fund. Stiglitz and Hodge called for the fund to be increased to R500-million, with R2-billion allocated over five to 10 years. However, Prof Morris, in a separate report said that the fund should be smaller and more focused.
