Carrefour seeks regulator nod to lock out rivals in Kenyan malls

KENYA - Carrefour has rattled the market with a new push to lock out competition from prime locations in Nairobi. The retailer, run by franchise holder Majid Al Futtaim Holding, now wants to stop rivals from gaining tenancy at The Hub Karen, where it has an outlet, after making a similar application to the Competition…

GST impact: Fake brands of packaged food flood market

INDIA - With the packaged food industry taking a hit because of the GST burden, businesses from across India applied for deregistration in a bid to escape the tax. Popular trademarks went off the shelf overnight and manufacturers began selling products under new, unregistered trademarks. The GST Council in September issued a clarification saying registered…

Uchumi CEO exit derails recovery plans, as Govt pumps in US$7m

KENYA - The resignation of Uchumi Supermarkets’ chief executive Julius Kipng’etich has thrown the retailer’s recovery plans into limbo and compromised its efforts of attracting new funding to pay its outstanding debts and restock its outlets. This comes even as the government said it had released Ksh700 million ($7 million) to the company for restocking…

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…

Steinhoff Africa exercises its call to acquire majority vote at Shoprite

SOUTH AFRICA - Africa's biggest food retailer, Shoprite, on Friday confirmed that Steinhoff Africa Retail (Star) had exercised the call options to acquire a 23.1percent economic stake in and a 50.6percent voting control of the company. “The implementation of the investment by Star in Shoprite Holdings is subject to a number of conditions precedent, including…

Competition Authority says Tuskys wrangles to stall Nakumatt merger

KENYA - The competition regulator has told Tuskys Supermarket to resolve shareholder wrangles that could derail the retailer’s intended merger with rival Nakumatt. The competition watchdog’s Director-General, Wang’ombe Kariuki, in a letter to Tuskys’ shareholders says the Competition Authority of Kenya (CAK) cannot consider the merger application before allegations of ownership wrangles and financial stability…

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…