Struggling retailer Uchumi Supermarkets hopes to make a comeback after close to five years of dwindling fortunes, that has seen it close up to 33 branches. It currently has four stores in operations, CEO Mohamed Ahmed told the the Star, all in Nairobi. It expects to derive income from renting out the spaces whose charges range from Sh2,500 for smaller spaces to Sh10,000 for premium spots. Uchumi had already signed a sale agreement with a church group, which had committed to buy the land for Sh2.8 billion. Uchumi is down to four branches from 37 while South African retail giant Shoprite which is exiting the Kenyan market has two branches down from four.

Source: The Star June 11, 2021 00:56 UTC