NAKUMATT expands outside Kenya

January 4, 2008 |

Planet Retail 4 Jan 2008

Kenyan chain Nakumatt is to open its first stores outside the country this year. The company expects to return a profit of KES847 million (USD12.5 million) this financial year ending February 2008. Overall expansion is expected to see the chain's profits rise to KES1.2 billion (USD17.7 million) by 2010. By then, the retailer expects to have three stores in Uganda, two in Rwanda and four in Tanzania.

"The plan is to export shopping culture into other countries and prepare to compete with established chains from other African countries," according to the chain's operations director Thiagarajan Ramamurthy. Nakumatt also expects to increase its workforce from 3600 to 6000 by February 2010.

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