Nakumatt Holdings Director Thiagarajan Ramamurthy serves Busia Governor Sospeter Ojaamong at the new Nakumatt Busia.
Regional retailer, Nakumatt Holdings, has opened two new branches one each in Busia and Bungoma towns, pushing its total branch count to 57 stores across East Africa. This 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 branches. 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 Ksh200million in the two branches.
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“We have seen the impact of devolution in Kenya and such branch openings are expressly geared at complementing the ongoing county development agenda,” Mr 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.”
The new branches come hot on the heels of their recent acquisitionof Yako Supermarkets assets in Kakamega, Bungoma and Busia, which has allowed Nakumatt to make a fresh entry to Busia and Bungoma, towns, and will also be establishing its second store in Kakamega town in coming weeks.
There are plans to open new Nakumatt stores before the end of the trading year, in Kericho, Emali, Kampala and Kigali, are already in high gear. As part of a strategy to double its local and regional market share, Nakumatt has been undertaking a number of customer experience enhancing projects.
Currently enjoying a less than 25% market share of the formal retail space, Nakumatt Holdings, is actively seeking to retain a bigger slice of the mid to premium segment. Through the strategy, the retailer has been working, to grow its gross revenue to over US$1billion in the medium term period while growing its network footprint across East Africa.
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