Shoprite has announced that it will stop operations in Uganda and Madagascar. They join Nakumat and Uchumi supermarkets that exited Uganda in the recent past. The South African-based supermarket had branches at Village mall in Bugolobi, Lugogo and Acacia mall in Kololo and Victoria mall in Entebbe. According to a report by Reuters, the South […]
KEY POINTS The top gainer of the day was BK Group with 8.05 percent at the price of 38.25 shillings per share. It was followed by Britam Holdings with 5.06 percent at the price of 8.30 shillings per share. The top gainer of the day was BK Group with 8.05 percent at the price of […]
Uchumi Supermarkets branch in Nairobi. FILE PHOTO | NMG The High Court has blocked the auction of some assets of Uchumi Supermarket that were seized last year over a rent dispute until an application by the retailer challenging the sale is heard and determined. Justice Margaret Muigai dismissed an objection by United Housing Estate Ltd, […]
In On December 13, 2001, the Industrial and Commercial Development Corporation (ICDC) made a bold step in seconding Christopher John Kirubi to the Uchumi Supermarkets Ltd Board of Directors. Mr Kirubi was coming in to fill the big shoes of successful decision makers like Suresh Shah, who had found himself at Uchumi in similar fashion. […]
•Currently, the retailer has four stores in operations. •It has embarked on a charm offensive to lure suppliers and small traders to help stage the come back mainly in restocking its stores. Customers doing shopping at Uchumi supermarket. Photo/File Struggling retailer Uchumi Supermarkets hopes to make a comeback after close to five years of dwindling […]
Sitoyo Lopokoiyit is the Managing Director, M-PESA Africa and acting Chief Financial Services Officer at Safaricom. Sitoyo Lopokoiyit has been appointed as the M-Pesa Africa managing director effective April 1, 2021. CEO Peter Ndegwa said Safaricom will initiate the relevant talent sourcing processes to identify and appoint the next Financial Services leaders in due course. […]
Tuskys Supermarket has appointed its chief financial officer (CFO) Chadwick Okumu as its interim chief executive officer following the departure of Dan Githua last year. This is the second post for Mr Okumu who joined Tuskys in October last year as the CFO. He had also held the chief finance position at Uchumi Supermarkets. “Mr […]
The Nation Media Group was the top gainer of the day at the Nairobi Securities Exchange (NSE) on Tuesday, March 2, 2020, with 9.89 percent at the price of 19.45 shillings per share. Kenya Re-Insurance was the second top gainer with 4.84 percent at the price of 2.60 shillings per share followed by Longhorn Publishers […]
Nakumatt supermarket chain could close down anytime following fears that almost 15 companies listed on the Nairobi Stock Exchange have plunged into loses. “The middle class in Kenya are getting trapped in poverty and, therefore, have no disposable income to support supermarkets, for example, which has led to the closure of many retail stores,” NSE […]
Corporate Kenya has from time to time been rocked by a succession of scandals due to governance malpractices. These failures have seen big companies fall on hard times, with some such as was the case for Imperial Bank and Nakumatt going under. Others like Kenya Airways and Uchumi Supermarkets, which were once profitable, are now […]
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