Retail chain Nakumatt lost Sh18 billion worth of stock in the year to December 2017, its managers say in a report that reveals the extent of fraudulent activity that brought the company to near collapse.
Peter Kahi, the court-appointed administrator, has hired experts to conduct a “special audit” into the significant discrepancy in Nakumatt’s books of accounts, which the retailer booked as an adjustment in its accounts for the year to December 2017.
