Kenyan supermarket chain, Uchumi, pushes its rights issue
The-Star.co.ke - Dec 20th, 11:48
Uchumi Supermarkets has pushed forward by a month its rights issue to January after delays in cross-listing on Uganda Securities Exchange and Rwanda's over-the-counter.
Chief executive Jonathan CIano said shareholders will be offered a share for every two held in a cash call to fund domestic and regional growth targeting 13 more stores this financial year ending June.
The retailer has only started spending the Sh300 million it raised through a medium term note in June.
"We have enough money to invest as and when there's market need," Ciano said after the company's AGM in Nairobi. "We hope to start spending money from rights issue in February."From The-Star.co.ke
Kenyan retailers snap up new buildings as demand for retail space grows
20/12/2013 - 11:51
Commercial property development in Kitale town is on a roll, with those splurging huge sums reaping big, thanks to growing demand for retail space. - See more at: http://www.the-star.co.ke/news/article-145255/retailers-snap-new-buildings-kitale-town#sthash.8AX5Q0mt.dpuf
20/12/2013 - 08:51
London - Mark Zuckerberg, the chief executive officer of Facebook Inc., is selling shares to help pay taxes, joining the company and some other shareholders in an offering worth about $3.9 billion.
Naivas supermarket opens 29th store at Mountain Mall, Kenya
26/11/2013 - 08:48
The Naivas chain of supermarkets has opened a new branch, Mountain Mall, on the Thika superhighway. This is the chain's 29th store.
Kenyan retailers eye festive season
20/11/2013 - 11:43
Kenya's top three retail chains, Nakumatt, Tuskys and Uchumi are set to open new stores in strategic locations across the country in time for the December festive season's shopping boom.
Uchumi workers to close shop over pay
31/10/2013 - 08:23
Uchumi supermarkets could grind to a halt next Wednesday if employees make good their threat to down their tools. The Kenya Union of Commercial Food and Allied Workers has issued a strike notice dated October 9 to pressurise the supermarket chain's management to meet workers' demands for higher pay.