Uchumi Supermarkets Plc Share at the bearish Nairobi Securities Exchange(NSE) rose 5.26% at the end of trading this Wednesday to 40 cents per share over its previous closing price of 38 cents.
The counter traded 1,538,402 shares as investors reacted to the listed retailer earnings report which showed a Net Profit of KSh 8.8 million for the year ended June 2025, compared with a Net loss of KSh 49.7 million at the end of June 2024.
The increased activity at the counter pushed Uchumi shares to top price gainer, ahead of Absa New Gold ETF, Williamson Tea, Britam Holdings and Nation Media Group, the other top price gainers Wednesday. This reflects positively on the retailer’s financial health and investor confidence levels.
With a market capitalization of KSh 139 Million, the counter has gained 124% in price since the year begun when the share price was 17 cents.
Uchumi Supermarkets top individual shareholders
On the list of Uchumi Supermarkets top shareholders, as at end of June 2024, included Jamii Bora Bank Limited with 14.9% or 54,409,539 shares, Government of Kenya with 14.7% shareholding of 53,537,573 shares, Paul Wanderi Ndungu (4.6%) 16,869,272 shares Brunei Investment Limited (3.5%) 12,830,103 shares as well as other locals and foreigners named under nominee accounts.
Uchumi Supermarkets Debtors List
Uchumi Supermarket’s debt load currently stands at approximately KSh 9.8 billion. KCB is among the major creditors and is owed KSh 2.9 billion, United Bank of Africa (KSh 172 million with a legal battle ongoing over Uchumi’s Langata Road Property and Cooperative Bank.
Uchumi owes the Kenya Government KSh 1.2 Billion, the taxman KSh 275.4 million, KSh 521.1million in unpaid staff salaries and pensions KSh 107.1 million. The insolvency manager says the retailer is up to date on KRA payments and recently a consent was entered for the settlement of the outstanding CGT for Ngong Hyper to be paid as per the debt restructuring plans.
Uchumi is still undergoing a Company Voluntary Arrangement(CVA) to restructure its debt and revive the business. The retailer has paid 95% of its planned debts, including full settlement of bank loans and legal fees. However, payments to creditors and staff arrears, are still pending.
A CVA monitor report issued to the High Court Ruling by Justice F. Gikonyo on 15 May 2025, shows that Owen Koimburi, an Insolvency Practitioner was appointed on 20th March 2019 to supervise the implementation of the Company’s CVA.
Uchumi has held six Creditors’ Meetings so far since 13th May,2019. The sixth creditors meeting was held on 17th March 2025. At this meeting, it was resolved that the lifetime of the CVA to coincide with the sale, distribution of proceeds from the Kasarani Mall Limited [KML] 17-acre property and a meeting of the creditors be held to resolve its determination.
The CVA process saw unanimous creditor support for debt restructuring and the extension of repayment terms. The moratorium successfully protected the Company’s assets from forced recovery actions. The sale of the 3-acre KML property was concluded, and a partial conversion of debt to preferential shares took place.
Additionally, the Government (GOK) and Kenya Development Corporation [KDC] debts were converted into long-term, non-interest-bearing loans, which are payable from year 2026.
The Insolvency manager states that investigations conducted by the Office of the Attorney General and the Director of Public Prosecution confirms that Kasarani Mall Limited, has a valid Title. He warns that if Uchumi’s appeal court against this property is unsuccessful, the only other option will be to liquidate Uchumi Supermarkets.
This could also mark the end of 50-year-old Uchumi Supermarkets, one of the most enduring and oldest household retail brands in Kenya. Uchumi still rings a bell with millennials or generation Y, born between 1981 and 1996. Memories of Uchumi also transcends to the GenY, currently between 45 and 64 years.
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