Tuskys plan seeking strategic partner met with set back following shareholders wrangles

KENYA – Following Tuskys Supermarket’s plan of seeking a strategic investor to inject capital into its operations, a fresh round of fallout among the siblings who own the retail chain has emerged threatening the plan. Tuskys is planning to sale the business’s majority stake to a consortium made up of a private equity firm and an undisclosed foreign retailer in a bid to offset its debts. This was revealed in a letter by the Competition Authority of Kenya (CAK), committing that if the retailer opts to seek a strategic investor,…

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Kenyan retailer Tuskys seeking strategic investor in bailout plan

KENYA – Kenyan retailer Tuskys Supermarket is seeking a fresh capital injection into its operations through the sale of the business’s majority stake to a consortium made up of a private equity firm and an undisclosed foreign retailer in bid offset its debts. The retailer’s rescue plans have been disclosed by a transaction adviser and the Competition Authority of Kenya (CAK), which is supervising the company’s settlement of supplier dues worth billions of shillings that remained unpaid for months, reports Business Daily. If successful, Tuskys is expected to benefit from…

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Kenyan retailer Tuskys under investigations over US$12.1m unsettled debt

KENYA – Kenyan supermarket chain Tusker Mattresses Limited commonly refered to as Tuskys is under probe over default of suppliers pay to the tune of sh.1.29 billion (US$12.1m) with the Competition Authority of Kenya (CAK) launching an investigation over the retailer’s bank accounts. Tuskys has been ordered to furnish the regulator with its monthly bank statements for the past one year for all bank accounts relating to its retail business by Friday this week, reports Business Daily. Documents seen by the local daily show that this is part of a…

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Kenyan suppliers express heightening concerns over delayed payments by retailer

KENYA – Once beaten twice shy, seems to be the riddle banging Kenya suppliers mind following Tuskys supermarket’s recent announcement that it is facing constrained cash flow due to the impact of the coronavirus on its business. While most Kenyans remember Nakumatt in passing, its suppliers continue to bear the hurt of losing money they had broken sweat for, worse, with the possibility of recovery next to impossible. It is such bitter supplier experiences that have aroused fears among the suppliers of Tuskys Supermarket, which is the latest retailer in…

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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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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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Tuskys partners with Sendy to offer home deliveries curbing the spread of Corona

KENYA – Kenyan retail chain, Tuskys Supermarlet has partnered with Sendy an on-demand logistic platform to offer door to door delivers to customers to curtail the spread of the Covid-19 virus, with Kenya already reporting three confirmed cases. This is also in line with the government’s directive for people to work from home, avoid crowded places as well as encouraging cashless transactions. The campaign, “Stay in, Shop safe”, will see Tuskys customers make purchases of groceries from the comfort of their homes by sending their shopping list to the respective…

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Kenyan retailer Tuskys embarks on franchising plan to drive growth

KENYA – Tuskys Supermarkets, Kenya’s leading retail chain is set to embark on franchising its brand to Small and Medium-sized Enterprises (SMEs) in East Africa as part of its aggressive growth plan. The retailer revealed its expansion strategy during the launch of its 60th outlet at Nanyuki Mall and welcomed applicants who wish to be enjoined in the programme debbed ‘Tuskys Commercial Trade.’ The plan includes partnering with local investors who will use the Tuskys brand name as well as setting up smaller stores in Kenya and Uganda. Tuskys chief…

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Kenya retailer Tuskys Mattress opens additional branch in coastal region

KENYA – Kenya’s leading retailer Tusker Mattresses, which operates Tuskys Supermarkets and Mavazi Lifestyle Clothing stores has opened a new branch in the coast regional. Located in Oasis Shopping Mall in Malindi, the new branch brings the retailers outlets in the country to 58, further confirming the resilience of homegrown retail players in this market. Covering a shop floor area of more than 50,000 Square Feet, the new Tuskys Malindi store features a unique retail store fit-out incorporating various fully stocked sections including food stuff and groceries sections as well…

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Retail chain Tuskys taps former Coca-Cola’s director to drive business growth

KENYA – Tuskys Supermarkets, Kenya’s leading retail chain, has appointed Daniel Kipchumba Koech, a former Africa sales and marketing director of Nairobi Bottlers Ltd and subsidiary of Coca-Cola Beverages into a role in the company. Daniel will be serving as the retailer’s Chief Marketing Officer (CMO) in charge of Marketing, Business Development and Customer Experience. Tuskys chief executive, Dan Githua has also confirmed the recent appointment of Mr. Sylvester Kiptoo as the Chief Information Officer (CIO), joining the retailer from Kenya Airways. The appointments are part of the retailer’s ongoing…

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