Nakumatt
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| Private | |
| Industry | Retail trade |
| Founded | 1987 |
| Headquarters | Nairobi, Kenya |
| Products | Supermarkets |
| Subsidiaries | In Kenya, Rwanda, Tanzania and Uganda |
| Website | Home Page |
Nakumatt is a Kenyan supermarket chain. "Nakumatt" is an abbreviation for Nakuru Mattress.
As of December 2015[update], Nakumatt had nearly 65 stores in the African Great Lakes countries of Kenya, Uganda, Rwanda and Tanzania. It employed over 5,500, and had gross annual revenue in excess of US$450 million. At that time, it had plans to enter other African countries and to increase the number of stores in the countries where it already had a presence.
On 23 August 2008, Nakumatt opened its first store outside Kenya in the Union Trade Center, in Kigali, Rwanda. In June 2009, the first Nakumatt store in Uganda opened on Yusuf Lule Road on Kololo Hill, in central Kampala, the capital city. In November 2010, Nakumatt expanded its footprint in Kampala by acquiring Payless Supermarket, a Ugandan supermarket chain with two stores in the Kampala suburbs of Bugoloobi and Bukoto, bringing the number of stores in Uganda to three. The initial investment in the store in Kololo was approximately US$3 million. The two Payless Supermarket stores cost an estimated US$650,000. Nakumatt plans to expand the new stores at a later date. In February 2016, the retail chain announced plans to open five new stores outside Kenya during the first half of the year.
As of October 2015[update] the supermarket chain had 55 stores in the African Great Lakes, including at the following locations:
Turnover in 2006 was over US$200 million, up 120% on the previous year. In 2013, turnover (annual gross revenue) was estimat ot about US$650 million.
Nakumatt is a wholly Kenyan, privately held company, owned by the Atul Shah family. In July 2013, Kenyan print media indicated that the chain planned to sell a 25% stake to yet an unidentified investor and use the funds for regional expansion. After that sale, the Shah family will still remain the largest shareholder in the company.
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Wikipedia