Planet Retail 20 Mar 2008

Kenyan market leader Nakumatt has announced that it is planning to spend USD5 million to set up four stores in Tanzania this year, with the money used as a startup package to construct outlets in Dar es Salaam, Moshi and Arusha. However, Nakumatt COO Thiagarajan Ramamurthy said that additional money would be needed for stocking the outlets. The four stores will employ about 300 locals with some support from Kenyan workers experienced in the retail sector. Apart from Tanzania, Nakumatt is also considering market entries into Uganda and Rwanda, probably also in 2008.

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