Mwau exits Nakumatt with sale of 7.7pc stake

Businessman John Harun Mwau has sold his 7.7 per cent minority stake in Nakumatt Supermarkets ahead of the retail chain’s plan to take on board a new shareholder with deep pockets to pull it out of a bourgeoning debt crisis.

It was not immediately possible to establish the price at which Mr Mwau sold his shares, but the deal is estimated to be worth billions of shillings going by recent valuations of the retail chain.