Corporate governance remains the Achilles heel of many African retail chains, threatening their long-term growth prospects While corporate governance failings are obviously not confined to Africa, recent years have seen a plethora of scandals and mis-steps that have destabilised some of the retail industry’s most prominent names and threatened to undermine the brand equity
23rd September 2019
A number of suppliers have joined Githunguri Dairy in filing for Kenyan supermarket chain Uchumi to be wound up, while rival Nakumatt is faring little better. More than 20 of Uchumi’s creditors are seeking to recover debts amounting to KES900 million (USD8.8 million). The retailer was also recently evicted from its headquarters in Nairobi Industrial
21st November 2018
With Nakumatt now a shadow of its former self SagaRetail news, rival supermarket chains like Naivas and Tuskys are taking over some of the anchor tenancies it has vacated in such high-end malls as Nairobi’s Capital Centre and seeking to appeal to more affluent consumers.
5th October 2018
Debt-laden Kenyan supermarket chain Nakumatt has exited the country’s second-largest city, forced out of its last branch in Mombasa after accumulating rent arrears of KES107 million (USD209,000) over 21 months. Earlier this year, it closed its other store in the city. Having once operates 64 supermarkets across three countries, Nakumatt now has a mere six
5th September 2018