Kenyan retail chains in regional expansion drive despite inflation

As inflation eats into consumers’ buying power at home, Kenya’s retailers are putting their money into new investments around the region. Leading retail chain Nakumatt will open a new branch in Tanzania in October, add four more outlets in Uganda next year and one branch in Kigali even as it sets its sights on Juba and Bujumbura. The retail chain, which secured a $41 million five-year loan from four local banks in August, said it planned to enter other key markets in Southern Africa, West Africa and the Horn of Africa. Uchumi Supermarkets meanwhile has announced plans to open a branch in Juba and three in Uganda in addition to at least seven local branches. Its Tanzanian subsidiary commenced operations in August in Dar es Salaam. Naivas, one of the fastest growing retail supermarkets, says it is looking to consolidate its operations in Kenya with a branch in Mombasa, set to open by the end of the year, and four other branches in the Nairobi metropolis. read on: http://www.theeastafrican.co.ke/business/Kenyan+retail+chains+in+regional+expansion+drive/-/2560/1242604/-/12rbtx5/-/