Retail firm Nakumatt Holdings has opened its eighth branch in Uganda as it seeks to a larger share of the rising consumer spend in the region.
The company last month opened the Nakumatt Kisementi branch at the new Acacia Mall in Kampala, raising its total outlets in East Africa to 45.
Nakumatt’s CEO Atul Shah said the firm will open more outlets in the short term in pursuit of its Pan African retail ambitions.
“At Nakumatt Holdings, our regional expansion strategy remains firmly on course and we shall be announcing further branch openings in Tanzania, Burundi, Rwanda and even South Sudan in coming months,” Mr Shah said.
The Uganda venture comes weeks after the retail chain moved to acquire three Tanzanian outlets of food retailer Shoprite, a South Africa-based multinational.
Nakumatt’s top rival Uchumi Supermarkets is also opening more stores in East Africa that is attracting more international retailers keen on tapping the rising spend by the region’s middle class.
Uchumi, which has 30 outlets in East Africa, plans to open eight more branches within the next six months. Of the new branches, four will be in Kenya, one in Uganda, and three in Tanzania.
International retailers that are seeking acquisitions or startup operations in Kenya include South Africa’s Edgars, Foschini, and Massmart.