NAIROBI, Kenya, Dec 21 – Uchumi has recorded an increase in customers’ traffic across its 19 out of 20 branches by 300 per cent since it kicked off its restocking plan last week.
Acting CEO of Mohamed Ahmed Mohamed said the exercise is focused on replenishing stocks, improving cash flow, settling debts and paying employee salaries.
Additionally, the company has revealed that 99 per cent of its top 200 suppliers have entered into a supply agreement with the supermarket.
“Whilst the restocking process is timely as part of the festive season, this process only marks the beginning of implementation plans to ensure a long term sustainable business and improved market performance with a reduced cost base,” Mohamed said.
Uchumi COO Andrew Dixon said the company is on its way with its ongoing transformation programme and are making changes to bring a fresh outlook to Uchumi, which will strengthen our turnaround.
“We continue to remain committed to working with all our stakeholders, and today we want to draw attention to the key support our suppliers have played throughout all of this,” he added.
The restocking was made possible after the government released Sh700 million out of a Sh1.2 billion bailout loan they had been promised by the state to revive Uchumi’s Kenya operations.