By Claire Wanja
Regional retailer, Nakumatt Holdings, has opened two new branches in Busia and Bungoma towns, pushing its total branch count to 57 stores across East Africa.
The opening of Nakumatt Bungoma and Nakumatt Busia Supermarkets, is part of the firm’s ongoing programme geared at enhancing its national market presence in County Headquarters. Currently, Nakumatt has a branch presence in 15 counties in Kenya alongside its Uganda, Rwanda, and Tanzania presence
Speaking, at the opening of the two branches, Nakumatt Holdings Regional Operations and Strategy Director, Thiagarajan Ramamurthy, disclosed that the firm, has invested more than Kshs 200million in the two new branches.
“At Nakumatt, we have seen the impact of devolution in Kenya and such branch openings are expressly geared at complementing the ongoing county development agenda,” Ramamuthy said, adding, “Retail, acts as a barometer of economic growth and our presence in these markets, will further help to raise the formal retail penetration in Kenya.”
In Busia, County Governor Sospeter Ojaamong pledged support for investors entering the county as part of his commitments commitment to deepen formal retail trade.
Busia County, Ojaamong disclosed has formulated policies to guide retail and wholesale sector investments.
In Bungoma, County Governor, Ken Lusaka, while welcoming Nakumatt’s entry, into the region also pledged to maintain a conducive environment for retail sector investors. The Bungoma County Government, he said has already rolled out robust investment attraction plans which have begun to bear fruits.
The opening of the two new branches, comes hot on the heels of their recent acquisition from the formr, Yako Supermarkets.
Nakumatt Holdings, recently acquired the former, Yako Supermarkets Ltd, assets in Kakamega, Bungoma and Busia, at an undisclosed financial consideration deal, setting the stage for its enhanced expansion in Western Kenya.