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Uchumi FY15 Loss of Ksh. 3.42 Bn
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obiero
#21 Posted : Saturday, December 05, 2015 3:31:05 PM
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Ericsson wrote:
@Wakanyugi
Govt is not the largest shareholder in Uchumi;its Jamii Bora Group.
Were it not for them protecting their investment Uchumi could have reached ICU like Mumias and KQ but they acted timely before the situation became catastrophic.
They invested a big chunk of money in the rights issue last year and didn't want to see their investment go to waste.
They are were the spearheaders in recruiting Kipngetich.

To someone who was not in the know.. @wakanyugis comment would have sailed through, unopposed :)

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Wakanyugi
#22 Posted : Monday, December 07, 2015 8:09:44 PM
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Joined: 7/3/2007
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obiero wrote:
Ericsson wrote:
@Wakanyugi
Govt is not the largest shareholder in Uchumi;its Jamii Bora Group.
Were it not for them protecting their investment Uchumi could have reached ICU like Mumias and KQ but they acted timely before the situation became catastrophic.
They invested a big chunk of money in the rights issue last year and didn't want to see their investment go to waste.
They are were the spearheaders in recruiting Kipngetich.

To someone who was not in the know.. @wakanyugis comment would have sailed through, unopposed :)



Thank you for the education, Ericsson. Much appreciated.

Now this does not fill me with a lot of confidence. The cyclical boom and near death of Uchumi is well known. If we can't blame Gaarment, then there must be something fundamentally flawed about the brand or strategy.

Bishop Masinde told us the other day that it because Uchumi lost focus, unlike Nakumat, and tries to be everything; a real estate owner, manufacturer and retailer all rolled into one. I think he had a point.

I'll sit out buying any shares in Uchumi this round, despite Kipngetichs great credentials. I like that micro franchise idea of his though. He clearly plans to bring the best of Equity to Uchumi. More power to him.
"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Ericsson
#23 Posted : Tuesday, December 08, 2015 12:31:20 AM
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KCB;the banker of Uchumi loans it ksh.500mn ahead of the festive christmas season.This is to ensure branches are well stocked and for them to attract shoppers and make good sales
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Pesa Nane
#24 Posted : Tuesday, December 08, 2015 8:47:59 AM
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Ericsson wrote:
KCB;the banker of Uchumi loans it ksh.500mn ahead of the festive christmas season.This is to ensure branches are well stocked and for them to attract shoppers and make good sales


Too little, toooo late. Competition made Christmas stocks orders months ago. The cash has also not landed yet!

Quote:
Uchumi Supermarkets is set to receive a Sh500 million short term loan from KCB Group to stock up its outlets ahead of the Christmas shopping period.
Pesa Nane plans to be shilingi when he grows up.
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Lolest!
#25 Posted : Tuesday, December 08, 2015 9:41:12 AM
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Pesa Nane wrote:
Ericsson wrote:
KCB;the banker of Uchumi loans it ksh.500mn ahead of the festive christmas season.This is to ensure branches are well stocked and for them to attract shoppers and make good sales


Too little, toooo late. Competition made Christmas stocks orders months ago. The cash has also not landed yet!

Quote:
Uchumi Supermarkets is set to receive a Sh500 million short term loan from KCB Group to stock up its outlets ahead of the Christmas shopping period.

It can't be too late for anticipated volumes in Dec-Jan festive season and school opening retail peak season
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mlennyma
#26 Posted : Tuesday, December 08, 2015 10:56:14 AM
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Lolest! wrote:
Pesa Nane wrote:
Ericsson wrote:
KCB;the banker of Uchumi loans it ksh.500mn ahead of the festive christmas season.This is to ensure branches are well stocked and for them to attract shoppers and make good sales


Too little, toooo late. Competition made Christmas stocks orders months ago. The cash has also not landed yet!

Quote:
Uchumi Supermarkets is set to receive a Sh500 million short term loan from KCB Group to stock up its outlets ahead of the Christmas shopping period.

It can't be too late for anticipated volumes in Dec-Jan festive season and school opening retail peak season

simba is a clever businessman taking advantage of the situation smile
"Don't let the fear of losing be greater than the excitement of winning."
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Ericsson
#27 Posted : Tuesday, December 08, 2015 1:30:33 PM
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Of course you can't beat simba in such trix.
With the way things are going I doubt whether Kip will be able to sell one of the assets Uchumi owns.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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mlennyma
#28 Posted : Tuesday, December 08, 2015 1:55:25 PM
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Ericsson wrote:
Of course you can't beat simba in such trix.
With the way things are going I doubt whether Kip will be able to sell one of the assets Uchumi owns.

simba should trade carefully dealing with someone who is selling what can be used as guaranteed collateral
"Don't let the fear of losing be greater than the excitement of winning."
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Ericsson
#29 Posted : Tuesday, December 08, 2015 2:12:07 PM
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@mlenyama;
Those existing assets have been attached as collateral for the loan.
That why I said i don't see Uchumi selling Ngong and langata Road plots
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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mlennyma
#30 Posted : Tuesday, December 08, 2015 3:41:26 PM
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Ericsson wrote:
@mlenyama;
Those existing assets have been attached as collateral for the loan.
That why I said i don't see Uchumi selling Ngong and langata Road plots

i get you now boss,but the ngong road Uchumi was poorly constructed,that plot has more potential than its utilised.they can have their supermarket and much more rentals
"Don't let the fear of losing be greater than the excitement of winning."
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murchr
#31 Posted : Tuesday, December 22, 2015 11:49:03 PM
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Uchumi Supermarkets is looking for a strategic investor to take a controlling stake in the retailer in exchange for a Sh5 billion capital injection.

http://www.businessdaily...90/-/9t6kx7/-/index.html
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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uchumi
#32 Posted : Wednesday, December 23, 2015 8:00:37 AM
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This is the right move
“I don’t regret the things I’ve done, I regret the things I didn’t do when I had the chance.”
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Ericsson
#33 Posted : Wednesday, December 23, 2015 12:10:13 PM
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This is now where Kipngetich stumbling block.He was brought in to revive the supermarket chain into profitability and not to bring in a strategic investor.

Ooooh we are going to sell Ngong Rd and Langata Rd property to repay the debts.
Oooh we are closing subsidiaries in Uganda and Tanzania
Oooh we are now looking for a strategic investor.

Once the strategic investor who will take a controlling stake is brought in;he will come with his people and Kipngetich may be replaced with the strategic investor appointee.

Uchumi needs to put a freeze on opening new branches;refurbish the existing ones and profits made used to reduce the debt burden.
They have key branches at very strategic locations.

There are three type of CEOs;
--There is the turnaround CEO
--There is the growth CEO
--There is the startup CEO
Kipngetich should know where he fits and align himself to what the supermarket chain wants;right now it needs a turnaround CEO;keep a lid on expenses and overheads and ensure branches start become profitable.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Aguytrying
#34 Posted : Wednesday, December 23, 2015 4:36:47 PM
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[quote=murchr]Uchumi Supermarkets is looking for a strategic investor to take a controlling stake in the retailer in exchange for a Sh5 billion capital injection.

http://www.businessdaily...0/-/9t6kx7/-/index.html[/quote]

I feel sorry for Uchumi. In short they want to be taken over, coz the current market cap is 3.2b, the new owner will have more than 50%. Meanwhile nakumatt keeps turning down potential suitors
The investor's chief problem - and even his worst enemy - is likely to be himself
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sparkly
#35 Posted : Wednesday, December 23, 2015 5:05:18 PM
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Aguytrying wrote:
[quote=murchr]Uchumi Supermarkets is looking for a strategic investor to take a controlling stake in the retailer in exchange for a Sh5 billion capital injection.

http://www.businessdaily...0/-/9t6kx7/-/index.html[/quote]

I feel sorry for Uchumi. In short they want to be taken over, coz the current market cap is 3.2b, the new owner will have more than 50%. Meanwhile nakumatt keeps turning down potential suitors


GOK can just offload its shares at NSE.
Life is short. Live passionately.
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streetwise
#36 Posted : Wednesday, December 23, 2015 5:20:33 PM
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If you read this article you will know why things are thick the supermarket space.

http://www.businessdaily...8/-/x9i5cz/-/index.html

Uchumi may go down, remember dormant coffee . Someone bought them and closed the shops
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Ericsson
#37 Posted : Wednesday, December 23, 2015 6:19:31 PM
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The economic boom during NARC and Grand Coalition days are gone,gone and gone.
The Jubilee government has messed up the economy,the populace have no money to spend like they used before.Purchasing power has been battered severely by taxes and inflation
Next it will be the shopping malls;I pity the likes of Two Rivers and Garden City no people to shop
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#38 Posted : Wednesday, December 23, 2015 6:26:56 PM
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Joined: 1/3/2007
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Ericsson wrote:
The economic boom during NARC and Grand Coalition days are gone,gone and gone.
The Jubilee government has messed up the economy,the populace have no money to spend like they used before.Purchasing power has been battered severely by taxes and inflation
Next it will be the shopping malls;I pity the likes of Two Rivers and Garden City no people to shop

Those who will shop at Two Rivers are the 1%. They will be fine.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Aguytrying
#39 Posted : Wednesday, December 23, 2015 8:28:48 PM
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Joined: 7/11/2010
Posts: 5,040
sparkly wrote:
Aguytrying wrote:
[quote=murchr]Uchumi Supermarkets is looking for a strategic investor to take a controlling stake in the retailer in exchange for a Sh5 billion capital injection.

http://www.businessdaily...0/-/9t6kx7/-/index.html[/quote]

I feel sorry for Uchumi. In short they want to be taken over, coz the current market cap is 3.2b, the new owner will have more than 50%. Meanwhile nakumatt keeps turning down potential suitors


GOK can just offload its shares at NSE.


I'm not getting you. If it's a capital injection, new shares have to be issued
The investor's chief problem - and even his worst enemy - is likely to be himself
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Ericsson
#40 Posted : Wednesday, December 23, 2015 10:45:11 PM
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@VituVingiSana
Those people are already sorted out with a variety of spots at Village Market,Ridgeways Mall,Cianda Mall,Rosslyn Riviera by the Gethi family then now Two Rivers
Iko shida shida kubwa
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