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French and German agencies buy minority stake in Naivas

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A view of a supermarket at Naivas Supermarket along Aga Khan walk in Nairobi. [Wilberforce Okwiri, Standard]

Two leading development finance institutions from France and Germany are set to become shareholders of local retail chain Naivas Supermarkets following the exit of private equity firm Amethis.

The French Development Agency (AFD) and Germany's KfW Group are set to own a minority stake in the retailer through a Mauritius registered company partly owned by their respective subsidiaries.

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