Regulator rejects Tuskys-Nakumatt  deal, asks for revision

KENYA - The competition regulator has rejected retail chain Tuskys’ proposed merger with troubled Nakumatt Supermarkets, arguing that the application for regulatory review was done under the wrong clause of the antitrust law. In a letter to the two retailers seen by the Business Daily, the Competition Authority of Kenya (CAK) has advised that a…

Choppies builds US$200m war chest for branch expansion

KENYA - Botswana’s Choppies plans to open between 20 and 25 branches in Kenya, as it races to take advantage of the market gap created by woes facing Nakumatt and Uchumi. The retailer, which is largely a budget store with operations in seven African countries says it has Sh20 billion (US$200m) to pump into its expansion in Kenya in the next…

Tuskys faces probe over Nakumatt stocking plan

KENYA - The competition watchdog is investigating a deal in which supermarkets chain Tuskys is funding the restocking of troubled rival Nakumatt for possible breach of anti-trust regulations. Tuskys on Saturday announced that it had started restocking two of Nakumatt’s prime Nairobi outlets with the intention of including even more stores across the country. Sources…

Former Nakumatt Marketing head takes up Uchumi COO role

KENYA - Uchumi Supermarkets has appointed ex-Tesco executive Andrew Dixon as chief operating officer (COO) exactly a month after he left rival Nakumatt where he served as chief marketing officer. He joined Nakumatt in November 2016 in a move by the retailer’s management to seek outside assistance to help turnaround the business that is struggling…

Despite setbacks, Kenyan supermarket sector amongst best in Africa

KENYA - Kenya’s retail sector is still among the most attractive for long-term investors in sub-Saharan Africa despite cash flow challenges that have left giant Nakumatt Holdings on the brink of collapse, a new report has suggested. The interest is largely fuelled by the sector’s growth. It has outperformed the economy in the last five…

Tuskys to guarantee Sh3bn Nakumatt debt as part of merger deal

KENYA - The battle to save Nakumatt Supermarkets yesterday took a new turn after rival Tuskys offered to inject Sh650 million into the troubled retail chain and recurring payment guarantees of between Sh1.5 billion and Sh3 billion for the outstanding debt. The offer is subject to the Competition Authority of Kenya (CAK) approving a takeover…

Shoprite prepares Kenya entry to fill gaps left by Nakumatt

KENYA - Shoprite Holdings Ltd. is in talks to open its first stores in Kenya by filling retail space left empty by the struggling Nakumatt Holdings Ltd. chain. “We are currently in talks with some of the property owners, but nothing has been signed,” Shoprite director Gerhard Fritz said in an emailed response to questions. Africa’s…