Uchumi Supermarkets of Kenya mulls expansion in Nigeria, Ethiopia & the DRC

Julius Kipng’etich, CEO, Uchumi Supermarkets

Uchumi Supermarkets Ltd., Kenya’s only publicly traded retail chain, is considering starting operations in Nigeria, Ethiopia and the Democratic Republic of Congo after reorganizing its East African operations, Chief Executive Officer Julius Kipng’etich said.

“Congo is a very interesting country and we could possibly extend our footprint there,” Kipng’etich told shareholders Wednesday in the Kenyan capital, Nairobi. “Nigeria, their retail industry is not as well developed and that presents opportunities.”

The company could begin operations in Ethiopia in three years, Kipng’etich said. Uchumi may also re-enter neighboring Uganda and Tanzania, where it shut its loss-making businesses last year.

Read more: Uchumi Supermarkets of Kenya Mulls Expansion in Nigeria, Congo – Bloomberg Business