Corporate News
Nakumatt managing director Atul Shah. PHOTO | FILE
By DAVID HERBLING, hdavid@ke.nationmedia.com
In Summary
- Nakumatt, which is Kenya’s biggest retail chain with 61 stores across East Africa, said talks were at an “advanced stage” to sell a 25 per cent stake or more to an investor.
- The retailer said its owners were on course to finalising the share sale — which has been in the works since 2009 — in a matter of weeks.
- The family-owned business declined to disclose the identity of the suitors, citing “client confidentiality.”
- Kenya’s top-tier retailers — Nakumatt, Tuskys and Naivas — are family-owned, making them prime targets for acquisition by PE funds and foreign supermarket chains.
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