Actually Eastlands has two Eastgates.^^yep, now i heard the anchor store in EASTGATE mall is Naivas, right? than it will be a matter of time before they join the big league:cheers:
^^thanks for the clarification :cheers:Actually Eastlands has two Eastgates.
There's the one which was U/C and its supposed to be around Buruburu (I haven't checked it out yet though I heard its now open). this one is the typical mall with Tuskys as the anchor store and many other shops.
Naivas eastgate is in Doonholm, Just after Jogoo road junction with the road to JKIA. Its just one of those hypermarkets with a departmental store layout. It's not a mall IMO.
Well, in kenya, the giants seem to get bigger and bigger. Nakumatt has taken over woolmatt stores now and there are rumours that it will take over some stores in Uganda as well. And it opened three new stores at the same time last week. In Eldoret, Nanyuki and Kakamega.I support small stores'kay: game against those giants dinausors:down:. way to go.
Small stores more owners more hotter competition better for clients.
Not just Nakumatt that is not paying suppliers. All major supermarkets have huge debt to suppliers but Nakumatt has the biggest debt. Ministry of trade is introducing a policy that will see an regulatory authority set up to regulate retailers and also failures to pay suppliers with stipulated period will let to punitive measures such as interests. These retailers instead of paying suppliers they use the money to expand at exponential speed that is not sustainable. Can you imagine that over 1B is owed to suppliers. Some SMEs have even been pushed out of business and closed shop because their cash flow has been strangled.^^
Heard it too from a supplier who has not been paid for long. A group of suppliers are considering legal action.
True. It's obvious they need cash but are reluctant to share their fortunes with Kenyans or other East Africans.I wish them well... It's one brand that has always made me proud as a Kenyan esp when I go to other countries and see the Blue label standing tall.... Hope they sail through the storm... But I think it's the high time they bring a minority foreign PE fund to bring professionalism in managing their expansion plans.... #BuyKenyanBuildKenya
I doubt by Blue Label he was referring to the Unilever product Blueband. I think Nakumatt does brand themselves (and Label some of their own branded products) as the Blue Label.Mami Wota above, I feel your cry about Nakumatt and its sad that these retailers can't pay for the goods supplied, a friend in the FMCG told me this two years ago. That said, Blue Band belongs to Unilever not Nakumatt
One of Nakumatt Supermarket's nine branches in Uganda was Tuesday closed following rent arrears running into millions of shillings, highlighting the depth of the retailer’s financial woes.
Nakumatt has confirmed that its Katwe branch, which is three kilometers from Kampala’s central business district, has been shut due to a rent dispute.
The retailer did not divulge the amount owed but Uganda's local media is reporting that the firm owes the outlet’s landlord approximately Sh8.5 million, forcing him to bolt the outlet’s doors in a bid to recover the money.
In response to queries from the Business Daily, Nakumatt said it was hoping to resolve the issue as soon as possible.
"This has accrued over the past few months due to a depressed trading environment and poor sales at the specific branch. Consequently, this has heavily constrained our cash flow necessitating the ongoing restructuring and capitalisation efforts," a Nakumatt official said.
Kenya's largest retail chain, which also has a presence in Tanzania and Rwanda, has seven branches in and around Uganda’s capital and one each in the towns of Entebbe and Mbarara.
Nakumatt’s gross debt more than tripled to Sh15 billion in February 2015 from Sh4.2 billion in 2011, piling pressure on operations and resulting in long payment delays to suppliers.
This has led to stock outs at many of its outlets.
The retailer is currently working on a $75 million (Sh7.5 billion) deal to sell a 25 per cent stake to a strategic investor to retire its heavy debt burden in a transaction that values the business at about Sh30 billion.
Nakumatt, which operates a total of 64 branches, recently closed its Ronald Ngala Street branch in Nairobi, citing years of low sales from the downtown shop in a high cost business environment.