Nakumatt sets up in Tanzania
By Business Reporter | July 28th 2014
Nakumatt Holdings, has officially opened the first of its three new branches in Tanzania.
As part of a phased out opening plan, the regional retailer, has now opened what will be its flagship store in Tanzania at Mlimani City Mall, to be known as Nakumatt Mlimani. The 48th Nakumatt store has been outfitted to the signature Nakumatt corporate colours and layout.
Alongside Nakumatt Mlimani, the retailer also plans to open Nakumatt Pungu Road in Dar Es Salaam, which will also house its Tanzania Headquarters and Nakumatt Arusha in coming days.
By opening the three key branches in succession, Nakumatt will have effectively boosted its branch network to 50, a milestone that was part of its Nakumatt 2.0 corporate development strategy earlier announced way back in 2011.
Speaking at the opening of the first store in Dar Es Salaam, Nakumatt Holdings Managing Director, Atul Shah said the opening of the three new stores upgraded at a cost of more than $3 million (Sh264m), is part of the retailer's regional expansion plans. The function was officiated by Tanzania's Deputy Minister for Industry, Trade and Marketing Janet Mbene.
Shah pointed it out that Nakumatt now has two running stores in Tanzania. Nakumatt Mlimani joins the existing Nakumatt Moshi which opened its doors in 2011. "The opening of Nakumatt Mlimani is a long held dream come true as we have been considering various avenues to establish our presence in Dar es Salaam and other parts of Tanzania since 2010," Shah confirmed.
"This opening, also sets the stage for our 50th branch opening by mid-August which will be a key milestone as we'll have achieved our Nakumatt 2.0 Strategy goal a clear six months ahead of the February 2015 target," he added.
The three former Shoprite stores were closed last month to facilitate major upgrade works consistent with Nakumatt in store and customer experience standards. Nakumatt also plans to open three new stores in Kenya by end of the year.
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