Rumor has it that Nakumatt Holdings is on the red and is unable to pay debts. It is allegedly being put under receivership.
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Kwani hawakuweza ku raise funds from a strategic investor
Could be. Hii Nakumatt Midtown ya kakamega sometimes some shelves huwa empty,
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for how long have you noticed the empty shelves?
hebu shed more light, which strategic investor is/was this
Severally, kwanza products za Farmer’s Choice, sometimes up to 3 consecutive days with no products…
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si recently they were to get 7.5b from a strategic investor. this coming after selling mwau’s 7% stake.
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Wanasota navile wanakuanga expe
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Uhuru Economy. Thousands of jobs uncreated. UOTP !
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It trended sometime back last year. I think the reality is hitting hard now.
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Dim eye kabisa…ukinyimwa na bibi Uhuru ooohhh…ukijikojolea Uhuru eeeeeeh…
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Thought they raised a capital round after Mwau sold his stake
Ukiwa expe na alternatives ni mob, utasota.
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War on drugs I guess
Hawa watu wapunguze prices roho safi…monday nilikuwa natafuta suitcase so i poppes into nakumatt lifestyle,kila suitcase hapo ni 20k plus ikabidi niende naivas yenye iko ronald ngala where i bought one for 6500…
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Waa. Hii ni noma msee. They have so many branches in the region.
Kwanza those small and medium supermarkets in estates zimeshift demand ya shoppers kabisa.
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…Kina Maathais, Selfridges…etc
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You are late on this news, it’s been a year now. They made many critical mistakes. Grew too fast using loans. Some branches made it like Rwanda, UG and some counties branches in Kenya. Some flopped like Tz. Tz they sold 49% shareholding to Manji and that has now cleared their loses there and save some funds to continue operating there. Massive fraud from managers from HQ to branches. That’s why the new team appointed have started off with a new warehouse system. Remember in the last few years some of there managers were killed by assassination, gunmen on motorbikes. Nakumatt problems started with late payments to suppliers who in time stopped supplying them. Lucky for them they have prime spots in many malls so getting a strategic investor wasn’t hard. However the new investor didn’t want to share a boardroom with a wanted drug lord. That meant current nakumatt shareholders buying out Mwau then sell to the investors. All that cash had to come from the biz as well. Mwau didn’t mind since after the USA froze his $50 million cash/asset there. He had built the hub mall to ensure constant income. Nakumatt suppliers have given them certain conditions to resume supply such as clearing a % of debt, commit formally to the rest of the debt and any penalties prescribed.
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most likely one of the reasons…you are not going to sell one long yellow banana for 17 shillings to a customer who will get the same muraru in his neighbourhood kiosk at three for 20/= twice…
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