- 15th January 2019
- Posted by: damian.shore
- Category: Retail & Shopping Malls, Kenya
The takeover of supermarket chain Tumaini Self Service Ltd. by Sokoni Retail Kenya was approved by the Competition Authority of Kenya in December, adding to the list of international players (including Carrefour, Choppies and Shoprite) jostling for a piece of the local market. Sokoni Retail Kenya is an investment vehicle of private equity firm Adenia Partners, which is based in Mauritius.
Tumaini currently has nine stores with an average size of 1,600m², making it a relatively small player in national terms. All of its stores are located in Nairobi and Kisumu. According to a statement issued by the retailer, “Sokoni has come on board as a strategic investor to help Tumaini achieve its goal of becoming a leading retailer in Kenya. Tumaini will begin an expansion plan … in convenient locations in Nairobi’s estates and neighbourhoods.” Details of the transaction have not been disclosed.