The Kenya Defence Forces has allowed Uchumi Supermarkets #ticker:UCHM to sell part of the disputed Kasarani land to Jewel Complex for Sh400 million as the retailer seeks to unlock working capital.
The military, which moved into Uchumi’s 20-acre piece of land in Kasarani, gave the retailer the green light to conduct a valuation on three acres of the property but has continued to place a caveat on 17 acres.
