Swift Kinetic and MMM Group boss Munowwer Parker eyes online retailer

Johannesburg – The MMM Group chairman, Munowwer Parker, has set sights on the acquisition of an online retailer to add to his already comprehensive stable of companies.

The group which is currently divided into a Media Division, Technology Division and an FMCG (Fast-Moving-Consumer-Goods) Division, comprises companies including nine newspapers, two advertisement agencies, two tech companies and also manufacture three products into retail, with its main base being in Johannesburg and smaller operations in Cape Town.

” It makes sense for us to be in the market to enter the online retail space, given that we have a vast number of resources at our disposal within the group. The fact that we have our own servers, Neocom, and have our own media production agency, I think it will be a perfect fit to give any project we embark on some extra clout. The relationships we have built in our FMCG divsion will also play a part in securing additional suppliers if we should succeed in this acquisition. ” said the media and technology businessman.

The group’s long term vision is very tech and media focused and has a passion for creating employment, and will not be deterred by the state of the economy due to the pandemic erasing jobs at an alarming rate.

The MMM boss said ” I think there’s room for competition. The market is currently being dominated in some what of a monopoly by one giant in the sector, with outside money, unlimited marketing spend, and they are prepared to run at a loss for years.

We may not have that luxury, but we have some ideas brewing to counter that. We’ll see how things play out in the future and take it from there.”