Uchumi Supermarkets to sell Lang'ata, Ngong Hyper to raise capital

Nairobi: Uchumi Supermarkets said on Friday it planned to sell and lease back two properties in the Kenyan capital to help raise capital, the latest move in a turnaround plan.

"The sale of the properties is driven primarily by Uchumi's need to dispose of non-revenue generating assets so as to raise inexpensive working capital," it said, citing a board decision.