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…

Java launches new cafè at university as it eyes more cities

KENYA - Local coffee chain Java House plans to open additional outlets outside Nairobi after opening its first branch in a learning institution at the United States International University-Africa (USIU-Africa) premises last month. The chain has continued its expansion with Meru, Thika, Athi River and Kiambu towns now in the pipeline. The Crystal Rivers Mall…

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…