The family of Peter Mukuha Kago, the founder of Naivas, is set to sell an extra 11 percent stake in the company for an estimated $41.7 million (Sh5.8 billion) in a deal that will see foreign investors take controlling ownership of Kenya’s largest supermarket chain.
This will be the third time the Mukuhas will be selling their shares in Naivas, which has become an investors’ magnet on the back of profitability and market share growth.
