An Uchumi Supermarkets outlet. Uchumi is banking on the sale of a $30 million plot of land and franchising of some of its branches to stay afloat. FILE PHOTO | DIANA NGILA | NMG
Struggling Kenyan retail chain Uchumi Supermarkets is banking on the sale of a $30 million plot of land in Kasarani, Nairobi and franchising of some of its branches as its only hope of staying open after the government ruled out injecting more money into the company.
Uchumi chief executive officer Mohamed Ahmed Mohamed said the board concluding discussions on franchising of its Lang'ata Hyper branch while talks on the sale of the land are at an advanced stage.
