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Nakumatt to open 14 new branches in two years

Retail chain Nakumatt has announced plans to open 14 new branches in the next two years as part of ongoing expansion plan of its business in Kenya and in the region.

The company has set a target of growing its gross revenues to over Sh90 billion in the medium term through the expansion programme, it noted in a statement on Friday.

Nakumatt Holdings regional strategy and operations director Thiagarajan Ramamurthy said that plans for the proposed 14 new branches are at an advanced stage.

“Within this project, the pilot refurbishment works at Nakumatt Village Hypermarket are nearing completion and we shall be rolling out similar store upgrades at all other branches progressively from next year,” Mr Ramamurthy said.

Currently, Nakumatt has a regional branch network of 52 outlets across Kenya, Uganda, Tanzania and Rwanda.

“We are looking ahead for wholesome growth and we will not be deterred by new entrants into the local market as we are firmly focused on revolutionising the customer experience and growing our network,” Mr Ramamurthy said.

Global firms Walmart and French retailer Carrefour are set to open shop in Kenya. Carrefour has booked space at the Two Rivers Mall, whose construction is set to be completed this year.

Walmart, on the other hand, booked space at Garden City Mall along Thika Road.