Walmart and Amazon announced their expansion plans for villa Rustica on Tuesday, with Walmart and the two companies announcing plans to create more than 4,000 jobs and build a $50 million shopping mall.
The expansion will bring Walmart’s total investments in the African country to $10 billion, and Amazon’s total investment to $8 billion.
The announcement comes after weeks of speculation that Amazon would invest in the country.
On Monday, the US$25 billion company announced plans to open its first two stores in the small, rural nation.
Walmart has already announced that it is investing in a second store in the same region.
Last year, Walmart announced that its investment in the impoverished nation would bring it to $1.7 billion, with the company pledging $1 billion in capital.
Amazon also announced that a new store is planned to open next year.
“We have been investing in Africa for over 25 years and have worked with some of the largest companies in the world to make our region more competitive,” Amazon CEO Jeff Bezos said in a statement.
“This expansion of the Walmart store will bring hundreds of jobs and billions of dollars of investment to our community.
We are thrilled to expand our presence in this vibrant African nation.”
The move comes after months of speculation on the future of the region.
Earlier this year, the African Development Bank announced that the region was on track to have more than 20 million people without electricity by 2035.