Corporate governance (lack of) will wilt our economy.


But there is also something that doesn't add up. Our economy can't be growing at "5.9%" which is faster than last year, yet no business is exceeding performance expectations...

If Uchumi had financial muscles it could have used this God sent opportunity to recoup its lost market share. Too bad that they too are in ICU. But not to worry all yo middle class, someone will fill the gap that will be left once Nakumatt gets burried (maybe Chadarana or some international outfit). Local supermarkets will also gain from the spoils aka Tuskys, Naivas etc. So in short we need not cry over their mismgt.

Meanwhile, Nakumatt Rwanda is opening up two more branches early next year in Kagugu and Ramera

Because we like strippers

Nakumatt===Karuturi flowers Naivasha
Watch the unfolding movie

Nakumatt has in the past couple of months grappled with boycotts from its suppliers over delayed payments and changes in contract terms, which have led to empty shelves in some outlets, particularly in Uganda.
Last year its profits dipped to $3.05 million from $8.23 million in 2013, largely due to rising interest charges associated with the large debt that has been used to fund growth.

http://www.theeastafrica...4608-up0jpwz/index.html

Tuskys and Naivas are also donning empty shelves.The 24 hour outlets stopped and now close at 10.30pm

Only the Maguna Andus and other smaller supermarket will gain and survive this meltdown.Their size working for them.

As Uchumi and Nakumatt tumble Naivas continues with expansion;

http://www.businessdaily...39006-s2eqy5z/index.html

Kamindi supermarket too will survive.

Na pia Mulleys, Cleanshelf, Jacmil