The retailer, which is the largest in the region, said a harsh operating environment had triggered what it termed as transient challenges. "Like any other business operating in this market, Nakumatt Holdings has faced a number of unforeseen challenges. "As expected, these factors have impacted on the operations on many fronts, including cash flow." Despite the challenges, Shah said the retailer would continue on its expansion plans in Kenya and the region. Nakumatt has more than 60 outlets across Kenya, Uganda, Rwanda and Tanzania.

Source: Standard Digital October 28, 2016 09:32 UTC