KENYA – The Sh120 million worth branch, branded Nakumatt Naalya, raises the supermarkets’ branch count to a 55.
The ninth Nakumatt store in Uganda opened Sunday at the Metroplex Shopping Mall.
Nakumatt managing director Atul Shah said that at an estimated formal retail penetration rate of less than 20 per cent, the region has more room for growth and called on governments to support their expansion.
Mr Shah said the new branch is in tandem with the steadily growing demand for world class retail stores.
Sets the pace
“This opening now sets the pace for our ambition to close the year with a complement of 60 branches in Kenya, Uganda, Tanzania and Rwanda.
“At Nakumatt, we are actively committed to our corporate mission which is geared at boosting formal retail penetration in East Africa,” said Mr Shah.
Nakumatt now operates nine branches in Uganda, four in Tanzania and two in Rwanda alongside its 40 stores in Kenya. The retailer recently bought out three Yako Supermarkets outlets in western Kenyan.