The Tanzanian competition watchdog has cleared Nakumatt’s bid to take over three stores owned by South African retailer Shoprite in Dar es Salaam and Arusha, moving the buyout closer to conclusion.
The Fair Competition Commission (FCC) of Tanzania Wednesday confirmed that it had given a green light for the transaction that will see Nakumatt stores in Tanzania increase to four, in addition to its Moshi outlet opened in 2011.
