Kenya: How Uchumi Cleared Disputed Sh1 Billion Deal

The management of Uchumi Supermarkets Ltd approved a contested Sh1.1 billion leasing contract with a local company, documents show.

The sale and lease-back agreement between the retailer and RentCo, the leasing company caught in a financial ping-pong between Uchumi and auditors, was signed by former Chief Executive Jonathan Ciano and the company secretary on January 13 last year.

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