Listed retailer Uchumi Supermarkets has gone into a franchise deal with local traders to operate the Nairobi West branch. The plan spells out strategies that Uchumi will take to reduce the ballooning debt now close to Sh3.6 billion. CEO Mohamed Mohamed said franchising is among its strategic moves towards recovery. “Franchising of this branch marks an important milestone for Uchumi Supermarkets. We plan to franchise other stores in addition to cost leadership initiatives,” said Mohamed in a statement.

Source: The Star April 16, 2019 10:41 UTC