Retail sector emerges as key to growth
SEE ALSO :Nakumatt creditors’ meeting abortsAccording to the report, the wholesale and retail sector posted 6.4 per cent growth last year, just behind the financial intermediation sector that registered a 6.5 per cent increase. Marginal drop While describing the growth in the wholesale and retail sector growth as “notable”, Waiguru said the economy’s overall 4.6 per cent growth had been supported by a stable macroeconomic environment, increased domestic demand and modest growth in credit. Speaking in Nairobi, Nakumatt Holdings Managing Director Atul Shah added that all indicators show the retail sector will perform even better this year. Among other efforts, he said, property developers are making retail-related investments that will significantly support the sector’s growth. “At our corporate level, we shall be investing close to Sh1.4 billion in retail network development, particularly at the county level, to support economic devolution and to spur development and job creation.”
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