Nakumatt to buy Shoprite’s Uganda stores

Nakumatt Supermarket has announced that it is in the final stages of acquiring two Ugandan stores of South African retail giant Shoprite.
Nakumatt Holdings’ head of strategy and operations Thiagarajan Ramamurthy said that the retail chain will sign the deal in less than two weeks, “We will be signing the Memorandum of Understanding with Shoprite to acquire their outlets in Uganda.”
The South African retailer closed one of its outlets in Kampala last month citing under-performance and poor location. The two stores that Nakumatt intends to buy are in Kampala. Shoprite opened its business in Uganda 15 years ago. While Shoprite Uganda has a workforce of over 500 employees in its two branches, Nakumatt has made its intentions to take over the staff very clear. The buyout will mark the exit of the South African retail giant from the East African market having sold its three Tanzanian outlets to Nakumatt for a reported Sh4 billion.
Nakumatt has eight branches in Uganda. – foodbusinessafrica.com