Another loss making Kenyan company part II

Another loss making Kenyan company part II

alafu nimekumbuka vipi UDART hapo dar?, linapata hasara za mwendokasi hahaa tz kichwa cha mwendawazimu tu..
 
Azarel said:
Kinachoshangaza sasa:

NAKUMATT inamilikiwa na Atul Shah na wanufaika wakubwa ni Asians

Wakenya ni waajiriwa tu lakini povu wanalotoa sasa....duh!

Nakumatt si Tuskys ya Wakikuyu.
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duuuh hehee, hivi said bahresa na dewji ni wasukuma ehh?
 
MOTOCHINI said:
Hawa watu wanapitia wakati ngumu
Ngoja tuone
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Wakati mwingine tatizo lao kuu ni kujiona wana akili sana au tuseme ujanja wa kihuni tu - wanafikiri watu wengine wamelala usingizi, ukitaka kujua hulka zao za ajabu jikumbushe sakata la bomba la mafuta - walisha jua kwamba M7 alisha kata shauri kwamba bomba lipitie Tanzania wakapewa taarifa lakini bado wakaendelea kutaka ku gatecrush mikutano ya Uganda na Tanzania, wanajileta tu bila ya kukaribishwa wanatolewa kwa aibu - jamaa wana guts za ajabu sana.

Tukija kwenye suala la NAKUMATTI, wala mimi sishangai na kinacho wasibu kwa sasa, walijingiza kichwa kichwa mno Tanzania na Uganda kabla hawajafanya tafiti za kutosha i.e market research ya kujua Watanzania na Waganda kama wana utamaduni wa kununua wahitaji yao kwa wingi kutoka supermarkets au wananunua kutoka maduka ya kawaida na sokoni? Watanzania wachache wanao kubali kuunguza Petrol kwenda kununua mahitaji yao kwenye Supermarkets mjini wao ununua huko huko wanako ishi awaendi mbali.

Shoprite iligundua tatizo hilo mapema ndio maana alihamua kubwaga manyanga lakini Wenzetu Wakenya wakafikiri wamepata fulsa ya kutengeza hela big time, wakanunua Supermarkets zote za Shoprite Uganda na Tanzania kabla awajafanya utafiti wa kutosha wa kujua kwa nini Makaburu walihamua kuondoka.

Baada ya muda kupita Wakenya wakawa wana kopa produce za wakulima na wafugaji kwa ahadi kwamba watawalipa baadae, Matokeo yake waka accumulate madeni mengi wakashindwa kuwalipa suppliers na wafanyakazi, hali ikawa ngumu sana kwao upande wa Tanzania vile vile na Uganda - kama nakumbuka vizuri NAKUMATTI walihamua kutoroka bila ya kulipa madeni yao au waliomba Serikali yao iwapige jeki, sikumbuki vizuri!! Kwa hiyo tusishangae yanayo wasibu hivi sasa.
 
Nakumatt Tanzania sells 51pc stake in recapitalisation plan
Dar es Salaam — Nakumatt Tanzania is selling a 51 per cent stake as the retail chain seeks additional capital to tweak its operations amid increasing debts regionally.
This comes two years after the Kenyan retailer acquired Shoprite shops in Tanzania in a deal that was valued at Sh76 billion.

Though the company - which owns three retail outlets (one in Arusha and two in Dar es Salaam - remains tightlipped on actual details of the sale, information published by the Fair Competition Commission (FCC) show that the buyer is a company known as Ascent Investment Limited.

The latter has already written to the FCC about the intended acquisition and the commission is investigating the matter before approving it.

"FCC is currently investigating the acquisition in line with the provisions of the Fair Competition Act 8 of 2003 and the Fair Competition Commission Procedure Rules, 2013," FCC said in a September 22, 2016 public notice.

The competition commission gave interested parties a two-week ultimatum to air their views that would help it in making an informed decision.

"Pursuant to Rule 49 of the FCC Procedure Rules, 2013, parties (both legal or natural) who deem themselves as having sufficient interest in the merger or if the merger is not objected to, it will have or is likely to have material effect on their interests, are hereby notified to register their interest (if any) or file any information that will assist the FCC in reaching a just and reasonable decision," the statement reads.

This is happening at a time when the Kenyan retail chain is facing an increase in its gross debt in Kenya and in Uganda, a situation that piles pressure on operations and resulting in long payment delays to suppliers.

As a result, the family-owned company - Nakumatt Holdings - is now offloading a cool 25 per cent stake. The Nakumatt Holdings business development director, Mr Neel Shah was last week quoted in Kenya's Business Daily as saying that the firm's owners were on course to finalising the share sale -- which has been in the works since 2009 -- in a matter of weeks.

"Barring any eventualities, this deal will be closed in a few weeks with full disclosure once done," Neel Shah, the business development director at Nakumatt Holdings, told Business Daily in an interview. The executive is a son of Atul Shah, Nakumatt's managing director.

The family-owned business declined to disclose the identity of the suitors, citing "client confidentiality," but promised to publicly announce details once the deal is closed.

Nakumatt's gross debt more than tripled to Ksh15 billion (about Tsh300 billion) in February 2015 from Sh4.2 billion (about Tsh84 billion) in 2011.

"This equity fund will help retire existing funding tools, including bank loans and related debts," Mr Shah told Business Daily.

The planned sale of a stake to the strategic investor was mooted in 2009 when a consortium of investors led by London-based private equity fund Satya Capital -- associated with Sudanese billionaire Mo Ibrahim -- expressed interest but the deal fell through.

Nakumatt's decision to tie-up with a strategic investor means the retail chain has abandoned earlier plans to raise capital through an initial public offering at the Nairobi Securities Exchange.

In Uganda, Nakumatt has had its stalls running empty at its several outlets as several suppliers have stopped placing products on the shelves of retail supermarket operator until payments are made for previous supplies.

And on Thursday last week, Nakumatt Holdings issued a statement in which admitted that it was in the red and was seeking a rescue.

"Like any other business operating in this market, Nakumatt Holdings has faced a number of unforeseen business challenges. These challenges range from a depressed economy, higher operating costs and extraneous factors including risk management due to prevailing security threats, among others," the statement signed by Managing Director Atul Shah reads in part.

Tanzania: Nakumatt Tanzania Sells 51 Percent Stake in Recapitalisation Plan
 
Bukyanagandi said:
Agressive sawa, lakini walao fanya ka utafiti kwanza - ukijifanya bigger than your HEAD matokea yake ndiyo haya, ya kijukuta adventures yako zina ku cost and arm and leg!!!
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Hawa ndugu zetu ni watu wa arrogance si unakumbuka mchakato wa pipeline jinsi media zao zilivyokuwa zina-undermine Tanzania team! Yaani kiukweli the only industry nafikiri Kenya wako mbele kwetu ni dairy na ni kwa vile Uhuru yupo madarakani na ana-cushion his companies from fair competition otherwise sioni industry ya kuitisha Tanzania kama fair ground inawekwa!
 
Geza Ulole said:
Hawa ndugu zetu ni watu wa arrogance si unakumbuka mchakato wa pipeline jinsi media zao zilivyokuwa zina-undermine Tanzania team! Yaani kiukweli the only industry nafikiri Kenya wako mbele kwetu ni dairy na ni kwa vile Uhuru yupo madarakani na ana-cushion his companies from fair competition otherwise sioni industry ya kuitisha Tanzania kama fair ground inawekwa!
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Ni kweli mkuu, actually nafikiri na kampuni hiyo ya mama Ngina ya Maziwa inafanya vizuri kwa kuwa inakuwa run jointly na kampuni ya Kiitaliano ijulikanayo kwa jina la Parmalat SpA kama sikosei.
 
Nakumatt shuts three outlets in Uganda
Saturday July 1 2017


nakumatt.jpg

A Nakumatt outlet at the Victoria Mall in Entebbe, Uganda. PHOTO | FILE

In Summary
  • The cash-strapped retailer shut stores at Acacia Mall in Kololo, Village Mall in Bugolobi and at Victoria Mall in Entebbe.
By KIPLAGAT EDWIN
Troubled regional retail chain Nakumatt has closed down three of its outlets in Uganda.

The cash-strapped retailer shut stores at Acacia Mall in Kololo, Village Mall in Bugolobi and at Victoria Mall in Entebbe.

"The supermarket space at these malls will go under redevelopment," said Knight Frank Uganda, the property manager, in a statement Saturday.

In April, Nakumatt shut its Katwe branch after it accumulated rent arrears running into millions of shillings.

Last month, the retailer said it would close poorly performing outlets in Uganda and Kenya. It has already closed two stores in Nairobi.

The retail chain also has a presence in Tanzania and Rwanda.

Nakumatt is struggling under huge debt estimated at $150 million with unsecured suppliers facing the problem of delayed payments.

The supermarket is hoping to attract a deep-pocketed investor for a financial bailout.

Nakumatt shuts three outlets in Uganda

where did that Kenyan entreneurship that every Kenyan in here brag about go? 😱

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