Aiii wee mboss... in retail you look at credit lines in most suppliers tell you lets put this on the shelf once sold pay us. Anyway looking at the IM Uchumi paid 675m to GoK and 956m to KCB and PTA banks without default or insolvency.

Management says "with benefit of hindsight, the management now observes strict controls on debt management" You can see this from the fact that the ICDC loan of 300m about 109m has been paid and balance outstanding at 191m
KCB overdraft of 200m and short term of 600m- 150m repaid balance of 650m

Now turning to Tanzania, sales grew 10%. The TZ economy grew at 7% in the last 2 years and the formal retail penetration is less than 10%. Now that's huge potential even if it was to get to Kenya's 30% penetration.

Uchumi shareholders you will make me rich again

The new CEO may get the firm back to normalcy in terms of increased profits, but he may not make it to heaven. Why fire 900 staff with no notice and no severence pay?? Why abolish signed contracts with the inhouse stores at less than minimum required notice??

The issue may not be the branch [or where it is located] but the 'other' land adjacent to Wilson. The original hypermart was built in the 90s when Suresh Shah was the MD when Uchumi was already a public company.