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Nakumatt boss quits

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yekeyeke		#1 Posted : Thursday, February 04, 2010 1:35:40 PM
Rank: Member Joined: 6/4/2008 Posts: 345		Anyone out there with an inside story on this? What could be happening with this shop? Mara we hear there are investors coming in, then top managers leave. Then the story of stock outs, fires and branch demolitions. Could this be prelude to something bigger? http://www.nation.co.ke/...8/-/hdb4daz/-/index.html
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Kamzee		#2 Posted : Thursday, February 04, 2010 2:26:49 PM
Rank: New-farer Joined: 2/4/2010 Posts: 16		But this guy has just won an international award alongside James Mwangi of Equity!
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anasazi		#3 Posted : Thursday, February 04, 2010 2:50:08 PM
Rank: Veteran Joined: 6/8/2007 Posts: 675		Haiya! Whats going on at Nakumatt? Are they overstretched? Expanded too fast and pressure is building? Form is temporary, class is permanent
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wote		#4 Posted : Thursday, February 04, 2010 4:08:51 PM
Rank: Member Joined: 10/18/2007 Posts: 217		It was built on drug money,wouldn't be surprised if it goes the same way it come.Remember one of the major share holder is a drug baron.
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Kulchaz		#5 Posted : Thursday, February 04, 2010 4:28:21 PM
Rank: Member Joined: 6/7/2008 Posts: 95 Location: Embu		Nakumatt, had a good time when Uchumi was in trouble, it now time for Uchumi to reclaim its Mantle.
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VituVingiSana		#6 Posted : Thursday, February 04, 2010 10:26:30 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,353 Location: Nairobi		It was the CEO (not the COO) who won the award... Well, one of the 'investors' came in as political muscle when Nakumatt was being threatened by vested political interests. A pity but any business that became prominent became the target of kenyatta, moi & cronies. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Cicero		#7 Posted : Friday, February 05, 2010 3:59:51 AM
Rank: Member Joined: 7/7/2009 Posts: 111		I feel for Nakumatt a bit ... but certainly feel more for Uchumi ... simply because Nakumatt is owned by a few already filthy rich people and Uchumis has 18,000 common mwananchi still waiting for it to get back to the NSE. Nakumatt also retails most goods at a very huge mark-up compared to the competition ... Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it...
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VituVingiSana		#8 Posted : Friday, February 05, 2010 4:07:25 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,353 Location: Nairobi		Cicero wrote: I feel for Nakumatt a bit ... but certainly feel more for Uchumi ... simply because Nakumatt is owned by a few already filthy rich people and Uchumis has 18,000 common mwananchi still waiting for it to get back to the NSE. Nakumatt also retails most goods at a very huge mark-up compared to the competition ... That is irrelevant! That's like saying you hate Warren Buffett coz he is rich... kwani aliiba pesa zako? All businesses (whether owned by 18,000 or 1) should be treated fairly as long as they follow the law. If Nakumatt (or any other shop/duka/kiosk) is 'overpriced' then go somewhere else! I like Nakumatt coz they provide decent parking for the customers be it at Prestige, Junction or Westgate! Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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fantony		#9 Posted : Friday, February 05, 2010 4:53:13 AM
Rank: Member Joined: 11/6/2006 Posts: 276		So branch demolitions may affect their catchment but Nakumatt can be addictive to people who shop with a bigger basket... they will find the next nearest branch... most of them drive anyway.. The people affected by demolitions are the property owners.. The fire i will agree was a major setback... Nakumatt has gone on to open branches in towns like Nanyuki.. Eldoret... Kigali.. Kampala Uchumi is a distant 3rd after Tuskys... Tuskys... have positioned themselves next to mwananchi in nairobi... though with competition from Ukwala and Naivas.. Uchumi basically has no fundamental client... the supermarket is just a random geographical occurrence that pops out wherever... the staff behave like civil servants and 24 hour operations are part of Ciano's vision 2030... Nakumatt meanwhile has 4 superstores at 24 hours... there are more people visiting Nakumatt Mega at night.. while the Uchumi at Capital Centre goes to sleep... than those at Langata Uchumi Hyper during the day... tuskys.. 'matatu'(notice locations of imara, pioneer, magic) crowd does not like shopping at night... @ wote - i think wazua.com is too much for you.. try visit bunge ya mwananchi... under a tree at jeevanjee gardens... that is the forum where people sit and speculate about how all the money they don't have has been stolen... @cicero.. you can go with him too...
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KulaRaha		#10 Posted : Friday, February 05, 2010 5:28:09 AM
Rank: Elder Joined: 7/26/2007 Posts: 6,514		There are new sharehodlers coming in, and changes have to be made. Rem, Nakumatt was essentially a family duka, which made it big. Now there is need for professional board and management. I understand they are/were headhunting for a pro in the retail biz to come in as CEO and COO. Looks like they found a candidate, and are now exiting all the cousins/buddies/cheap expatriates/yes men... Maybe if Uchumi had done the same us poor shareholders wouldnt be crying as we are now. Business opportunities are like buses,there's always another one coming
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