State keen to take up rights in Uchumi's growth, expansion bid

ICDC's Executive Director Peter Kimurwa (left), presents a cheque of Sh300 million to Uchumi Supermarkets Chief Executive Dr Jonathan Ciano, at a past event. The Government is looking forward to participate in the upcoming retail chain's rights issue. [PHOTO:FILE]

NAIROBI, KENYA: The Government is keen to take up its rights in Uchumi supermarkets. This is as the retail chain moves to raise additional capital from the existing shareholders to bolster its ambitious growth and expansion drive in the region.

National Treasury Cabinet Secretary Henry Rotich Thursday confirmed that the State will boost its presence in the retail supermarket, having engineered its revival from the brink of insolvency and receivership.