Naivas, Cleanshelf open new branches in Nakuru, take over spaces of struggling Tuskys, Ukwala

KENYA – IFC backed Kenyan retailer Naivas Supermarket has opened its fourth store in Nakuru town, as local chain Cleanshelf opens its inaugural store in the same region, central of Kenya. The new stores steam up competition in the town which hosts other retailers such as WoolMart and QuickMart who have two branches each, while homegrown Gilanis has maintained its only branch. According to reports by Business Daily, Naivas’ and Cleanshelf’s new branch have occupied spaces vacated by Tuskys and Choppies owned Ukwala respectively. Troubled Tuskys supermarket exited Nakuru town,…

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Naivas takes over space left by financially struggling Tuskys supermarket to open 70th Branch

KENYA – Naivas Supermarket, Kenya’s largest locally owned retail store is continuing with its expansion spree with the chain store seeking to open a new outlet in Kilifi, coastal county of Kenya at a space that was vacated by Tuskys last October. According to reports by Business Daily, the new outlet will be located at Kilifi Complex Centre situated next to DTB Bank on Bofa Road and targets to open its doors by the end of the month. The new branch is Naivas’ 70th in the country and will be…

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Naivas supermarket expands footprints in Kenya’s capital

KENYA – Kenyan retail chain Naivas Supermarket has announced the opening of two more stores before the end of the month. The first outlet by the IFC backed supermarket is set to open its doors at Nairobi’s Hazina Trade Centre where Nakumatt Lifestyle used to be. The second store, according to Business Daily report will be situated in Rongai town, targeting the growing middle class and working-class market. The upcoming stores which comes months after the opening of its 66th outlet at the Waterfront Mall in Karen, will raise the…

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Battle of expansion between Kenyan retailers Naivas, Carrefour, eyeing bigger market share

KENYA – IFC backed Kenyan retaier Naivas is set to open its 66th outlet at the Waterfront Mall in Karen replacing South African retailer Shoprite, who cut short its tenancy in April. The Kenyan retail market defined by heightened competition by both local and international retailers will also see Carrefour opening additional stores in Mombasa before the year ends, as part of its plan of opening six new outlets in 2020. Joining SA’s Game Stores as anchor clients at the shopping centre, Naivas is set to increase traffic to the…

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Tuskys halts operations in three outlets while Naivas opens new branch

KENYA – Supermarket chain Tuskys says it has temporarily halted trading in three branches to allow customers to shop in outlets with bigger space on the outbreak of coronavirus. Chief finance officer Martin Syuku told the Business Daily  the branches closed are in Nairobi, Kitale and Mombasa. Hundreds of businesses have been trying to stay afloat amid the outbreak, which has seen some firms enforce social distancing to contain the spread of the disease. “It’s a temporary suspension of our operations in those stores as we try to come out…

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Naivas supermarkets add alcohol to shelves giving it a competitive edge

KENYA – Kenyan retail chain Naivas supermarkets has diversified to selling alcohol to grow its revenue, breaking a decades-old business practice that gave its rivals a competitive advantage. The family-run retailer began opening alcohol kiosks within its newly-opened food market stores with the launch of new outlets that offered shoppers a wide variety of products, including fresh produce. This leaves Tuskys as the only top retailer in the country that does not deal in alcohol, in a market that has seen new entrants such as France’s Carrefour and South Africa’s…

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Naivas set to bag US$15m for sale of its minority stake to IFC, Amethis, DEG and MCB Equity Fund

KENYA – Kenyan retail chain Naivas supermarkets is set to receive US$15 million for the sale of its minority stake to IFC, a member of the World Bank Group alongside French private equity fund Amethis Finance, DEG and MCB Equity Fund. “IFC seeks to make an equity investment alongside Amethis which will result in a minority stake in the company,” IFC said in a disclosure. The new capital injection is earmarked for expansion in the highly competitive local supermarket business that has attracted major players across the globe. “Through the…

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Kenyan retailers offer home deliveries in bid to control spread of the corona virus

KENYA – In the wake of the outbreak of COVID-19 virus, Kenyan retailers have adopted safer and efficient ways of serving their customers by availing home delivery services. Spanish delivery company Glovo has announced partnership with Kenyan retail chain, Naivas Supermarket to offer free deliveries for orders above Ksh.1,000 from Saturday 21 March to Sunday 29 March 2020, and a flat rate delivery fee of Ksh.100 on deliveries above Ksh.1,000 from Monday 30 April to Sunday 19 April. “As an on-demand delivery service, we can provide food, groceries as well…

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CAK approves acquisition of minority stake in Naivas by French PE fund

KENYA – The Competition Authority of Kenya (CAK) has approved acquisition of a minority stake in Kenyan retail chain Naivas by French private equity fund Amethis Finance. Amethis has made the acquisition alongside its partners DEG, MCB Equity Fund and IFC, a member of the World Bank Group. The watchdog while approving the acquisition directed the merged entity to honour all current contracts made by Naivas with local suppliers besides payment of all exiting debts. The approval sets the stage for the continued expansion by Naivas as it seeks to…

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Amethis Fund II to acquire minority stake in Kenyan retail chain Naivas

KENYA – Amethis Fund II, Paris-based private equity fund is set to acquire a minority equity stake in Kenyan retail chain Naivas Limited in a deal estimated to be worth billions of shilling. “We are very excited about this partnership. As we embark on our next phase of growth, having an experienced investor with us will further strengthen the business,” Naivas’ managing director David Kimani said in a statement. “Amethis has a strong track record investing across Africa including Kenya, which will add value to our operations.” Naivas, which has…

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