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Uchumi Supermarket will bounce back, CEO Julius Kipng’etich says

Standard Group CEO Sam Shollei, left, with Uchumi CEO Julius Kipng'etich discuss plans for a joint Christmas campaign. [Photo: Faith Ronoh/Standard]

Uchumi Supermarket is working to regain its market standing by, among other things, offloading its assets to improve liquidity and its working capital.

Uchumi CEO Julius Kipng’etich said the recent closure of its operations in Tanzania and Uganda, as well as some local outlets, is part of a wider strategy to ease the strain on cash flows.

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