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Uchumi’s Sh4.8b hole that gives CEO nightmares

Uchumi Supermarket CEO Julius Kipng'etich. (Photo: David Njaaga/Standard)

When Julius Kipng’etich landed at Uchumi Supermarket, Kenya’s oldest retailer desperately needed a Midas touch. Dr Kipng’etich is hailed for turning around the fortunes of Kenya Wildlife Service (KWS).

With books suggesting the retail chain owed suppliers about Sh1 billion, Kipng’etich, fresh from success at Equity Bank as Chief Operating Officer, promised to turn Uchumi into “Kenya’s Walmart.”

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