Ex-Tesco exec steps down as Nakumatt Chief Marketing Officer

KENYA – The former executive of British retail giant Tesco, Andrew Dixon has left the troubled Nakumatt Supermarkets where he had served as Chief Marketing Officer since January. Andrew Dixon had been appointed as the chief marketing officer, at a crucial time as the retailer was preparing to complete an offloading transaction of 25% stake…

Carrefour takes Thika Road outlet after Nakumatt exit

KENYA - French retailer Carrefour will next month take over Nairobi’s Thika Road Mall (TRM) space vacated by struggling rival Nakumatt Holdings. This will be the third outlet for Carrefour, whose local franchise is held by Dubai-based conglomerate Majid Al Futtaim. The new store is expected to employ 200 people, raising the company’s staff count…

Nakumatt, Tuskys could list on stock exchange after merger

KENYA - Regional retailer Nakumatt and its competitor Tuskys could list on the Nairobi Securities Exchange (NSE) if their proposed merger is approved and they successfully execute their new business strategy for at least two years. A joint media announcement this week said that Tuskys, Kenya’s second largest retail chain, is coming to the rescue of…

Nakumatt and Tuskys supermarkets sign merger deal

KENYA - Troubled Nakumatt Supermarket has turned to Tuskys in bid to rescue its dwindling business. The two retailers have signed a merger deal that will help revive Nakumatt whose shelves have been empty for a long time. Nakumatt, with retail stores in Kenya's major towns, will now access stock from suppliers using Tuskys supermarkets’…