 | |
| Company type | Private |
|---|---|
| Industry | Retail trade |
| Founded | 1987 |
| Defunct | 2019 |
| Headquarters | Nairobi, Kenya |
| Products | Supermarkets |
| Website | www |
Nakumatt was a Kenyan supermarket chain. "Nakumatt" is an abbreviation for Nakuru Mattress. [1]
| | |
| Company type | Private |
|---|---|
| Industry | Retail trade |
| Founded | 1987 |
| Defunct | 2019 |
| Headquarters | Nairobi, Kenya |
| Products | Supermarkets |
| Website | www |
Nakumatt was a Kenyan supermarket chain. "Nakumatt" is an abbreviation for Nakuru Mattress. [1]
As of December 2015 [update] , Nakumatt had 65 stores in the African Great Lakes countries of Kenya, Uganda, Rwanda and Tanzania. It employed over 5,500, and had gross annual revenue in excess of US$450 million. [2] At that time, it had plans to enter other African countries and to increase the number of stores in the countries where it already had a presence. [3] In October 2017 the company ran out of funds and did not pay rents or wages. 60 stores were closed. As of March 2021, the chain had only one store in operation.
On 23 August 2008, Nakumatt opened its first store outside Kenya in the Union Trade Center, in Kigali, Rwanda. [4] In June 2009, the first Nakumatt store in Uganda opened on Yusuf Lule Road on Kololo Hill, in central Kampala, the capital city. In November 2010, Nakumatt expanded its footprint in Kampala by acquiring Payless Supermarket, a Ugandan supermarket chain with two stores in the Kampala suburbs of Bugoloobi and Bukoto, bringing the number of stores in Uganda to three. [5] The initial investment in the store in Kololo was approximately US$3 million. The two Payless Supermarket stores cost an estimated US$650,000. Nakumatt plans to expand the new stores at a later date. [6] In February 2016, the retail chain announced plans to open five new stores outside Kenya during the first half of the year. [7]
As of December 2019 [update] the supermarket chain had five stores in Kenya, including at the following locations: one in Nakuru and four stores in Nairobi. Prestige, Lavington, Embakasi, Mega. The Mega branch on Uhuru Highway now takes a smaller space adjacent to the proposed Carrefour Mega. [8]
Turnover in 2006 was over US$200 million, up 120% on the previous year. [9] In 2013, turnover (annual gross revenue) was estimated at US$650 million. [10]
Nakumatt was a wholly Kenyan, privately held company, owned by the Atul Shah family. [11] In July 2013, Kenyan print media indicated that the chain planned to sell a 25% stake to yet an unidentified investor and use the funds for regional expansion. After that sale, the Shah family would still remain the largest shareholders in the company. [12]
The chain has a poor safety record and has faced strong criticism mainly regarding shoppers' and employees' safety. Main case in point is the 2009 Nakumatt fire in which over 29 people lost their lives. However, the management has taken steps to ensure that such accidents do not happen again.
A Nakumatt store in Nairobi suffered a massive fire on 28 January 2009, killing about 29 people.
Nakumatt has played a significant role in the urban development of Kenya's largest and capital city, Nairobi, through the construction of upscale malls throughout the Nairobi area, which include brand name stores, banks, theaters and international eateries.
The website of Nakumatt Holdings Limited was hacked by Iranian hackers called Sole Sad & Invisible. The website as of 31 May 2014 shows a message that the website is under construction. There is a new website www.nakumatt.net [13]
Nakumatt began experiencing serious cash-flow issues in 2016. It was unable to meet its financial obligations to landlords, suppliers, and staff. An administrator was appointed to help it re-gain financial footing. However, in December 2019 the retail chain sold the last six branches to Naivas Supermarkets in a deal that will see the Nakumatt brand completely disappear by the end of 2019. Creditors formally voted to liquidate the company on 7 January 2020 [14] [15] [16]
Transport in Uganda refers to the transportation structure in Uganda. The country has an extensive network of paved and unpaved roads.
Nakuru is a city in the Rift Valley region of Kenya. It is the capital of Nakuru County, and is the third largest urban area in Kenya. As of 2019, Nakuru has an urban population of 570,674, making it the largest urban centre in the Rift Valley, succeeding Eldoret, Uasin Gishu County. The city lies along the Nairobi–Nakuru Highway, 160 kilometres (99 mi) from Nairobi.
The Uganda Securities Exchange (USE) is the principal stock exchange of Uganda. It was founded in June 1997. The USE is operated under the jurisdiction of Uganda's Capital Markets Authority, which in turn reports to the Bank of Uganda, Uganda's central bank.
Kololo is a hill in Kampala, the largest city and capital of Uganda. The name also applies to the upscale residential and commercial neighbourhood that sits on that hill.
Uchumi Supermarkets, often referred to simply as Uchumi, is a Kenyan supermarket chain. The word uchumi means "economy" in Swahili.
The 2009 Nakumatt supermarket fire occurred when a supermarket in downtown Nairobi, Kenya, caught fire on 28 January 2009. Twenty-nine remains were located in the rubble of the destroyed Nakumatt supermarket, with police investigating a tip that security guards locked exit doors in an effort to prevent looting. However the locking of the doors on the ground floor had no effect on the victims, as they were all found on the floor above. The fire allegedly started near the only staircase accessible to the public, trapping the victims in the shop. One other man died after leaping from the building to escape the flames. Forty-seven people are still missing. The bodies of the dead are "charred beyond recognition".
I&M Bank Uganda, formerly Orient Bank, whose complete name is I&M Bank (Uganda) Limited, is a commercial bank in Uganda which is licensed by the Bank of Uganda (BOU), the central bank and national banking regulator.
Bugoloobi sometimes spelled as Bugolobi, is a location in Kampala, Uganda's capital and largest city. It is a suburban neighborhood and some of the most valuable properties in Kampala are found here. It is among the most developed neighborhoods in Kampala and Uganda in general.
Bulaimu Muwanga Kibirige,, commonly known as BMK, was a Ugandan businessman, entrepreneur, and hotel owner. According to a 2012 published report, he was one of the wealthiest people in Uganda.
I&M Bank Kenya Limited, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.
I&M Holdings Limited, also I&M Bank Group, is a conglomerate comprising banks, an insurance company and investment advisory businesses. The group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Mauritius, Rwanda, Tanzania and Uganda. The flagship company of the group is I&M Bank Limited, with headquarters in the I&M Bank Tower on Kenyatta Avenue in the central business district of Nairobi, Kenya's capital and largest city.
Naivas Supermarket, often referred to simply as "Naivas", is the largest supermarket chain in Kenya, with 103 outlets as of March 2024. At that time, Naivas was the largest supermarket chain in Kenya, ahead of Quick Mart Limited with 51 outlets in the country.
Tuskys, was a Kenyan supermarket chain. It was one of the large supermarket chains in the Great Lakes Area. It employed nearly 6,150 people, 6,000+ in Kenya, and 150 in Uganda.
Ukwala Supermarkets, often referred to simply as Ukwala, is a supermarket chain in Kenya, the largest economy in the East African Community. The supermarket chain is a subsidiary of Choppies, a retail conglomerate based in Gaborone, Botswana.
Atul Shah is a businessman and entrepreneur in Kenya. He is the managing director and chief executive officer of the Nakumatt Holdings Limited, the parent company of Nakumatt Supermarkets, the largest, privately owned supermarket chain in the African Great Lakes area, with branches in Kenya, Uganda, Tanzania and Rwanda. As of September 2014, the retail chain maintained 50 stores in four countries, employed over 7,000 people and had annual sales in excess of US$650 million.
Bank of India (Kenya) is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the national banking regulator.
Eastmatt Supermarkets, often referred to simply as Eastmatt, is a supermarket chain in Kenya, the largest economy in the East African Community.
Chandarana Food Plus Supermarkets, is a Kenyan supermarket chain operated by Chandarana Food Plus Supermarkets Limited.
Quick Mart, also Quickmart, is a Kenyan supermarket chain. As of June 2022, it was the second largest supermarket chain in the country, behind market leader, Naivas Limited, with 84 stores and over 8,000 employees. At that time, according to its website, Quickmart had 53 retail outlets and employed in excess of 5,000 people.
