Kenya: Uchumi Turns to Shareholders One Last Chance

Nairobi — A year after the near-collapse of Uchumi Supermarkets, attention is focused on the latest manoeuverings in the tortuous recovery strategy.

The company's receiver-managers are offering reluctant shareholders one last chance to inject Sh600 million into the company under a recapitalisation plan. If that fails, the retail chain must find a new equity partner to fund the recovery.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.