Uchumi Supermarkets receives US$6.39m write off in financial restructuring plan

KENYA – Kenyan retailer, Uchumi Supermarkets has been granted leeway by commercial banks who have agreed in principle to write off and restructure a debt settlement plan of outstanding credit owed by the Supermarket chain […]

Uchumi Supermarkets clinches US$25m deal under its recovery plan

KENYA – Kenyan retailer, Uchumi Supermarkets, has reached into an agreement with its suppliers to forfeit US$25 million (Ksh2.5bn) in arrears as part of a proposed recovery plan for the retailer. The agreement will however, […]