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Kenya

Uchumi refutes claim its head office is being auctioned

Uchumi Acting Chief Executive Officer Ahmed Mohammed (r) admits the retailer owes KNTC rent arrears but not at risk of being auctioned.

NAIROBI, Kenya, Mar 28 – Uchumi supermarket has refuted claims that head office is under threat of auction from the Kenya National Trading Corporation.

In a press statement, Chief Executive Mohamed Mohamed admitted to owing rental arrears to Kenya National Trading Corporation but clarified that it is not under threat of auction.

Mohammed says that the retailer has an existing payment plan with the corporation, subject to capital injection through various sources that Uchumi’s management is actively pursuing.

He says Uchumi remains committed to engaging existing creditors with a view to bolstering its financial and operational performance.

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