Nakumatt Holdings News

Kenyan supermarket chain Nakumatt agrees stake sale to fund for $75M

Kenyan supermarket chain Nakumatt agrees stake sale to fund for $75M

Privately-owned Nakumatt, Kenya’s biggest supermarket chain by sales, has agreed to sell a 25 percent stake to a foreign fund for $75 million, part of an effort to bolster its balance sheet and pay off debts, its managing director said last Wednesday.

Nakumatt just sold a 25% slice of itself to an investment fund. Credit: qz.com/Reuters/Thomas Mukoya

Nakumatt and Shoprite are attracting interest from international investors for their fast-growing markets (Infographic)

The investment case for Africa requires taking the long view, especially when it comes to thinking about serving consumers on the continent.

Buffalo Mall, Naivasha, Kenya

East Africa's second-tier cities hold untapped potential

Retail in Kenya is dominated by informal sellers, but recent years have seen a boom in modern trade, with home-grown supermarket chains expanding their footprint and international brands (such as Carrefour and Massmart’s Game banner) entering the market.

Garden City (Illustration)

Kenya's $540M Garden City opens

Garden City, East Africa’s first integrated residential, retail and office development, officially opened last night with the announcement of a new Business Park.

Supermarket group Choppies wants to have 200 stores by the end of next year

Opportunities multiply as African ventures eye wider horizons

When Choppies opened its first store in Lobatse, a small town in Botswana, its ambition was limited to becoming a retailer of substance in its domestic market.

French retailer Carrefour to inaugurate 1st store in Kenya this year

International store chains coveting strong growth prospects in Kenya's retail market

Nakumatt and other local retailers have long served Kenya’s market but now international store chains and private equity investors are also coveting the strong growth prospects in east Africa’s leading economy.

M-PESA

Fact of the Day: Mobile money service M-PESA is Kenya's top brand

Mobile money payment service M-PESA has been voted as Kenya’s leading brand in the Top 20 super brands in Kenya survey.