Nakumatt seeks deep pocketed investor to buy 25 per cent stake

Retail chain Nakumatt is closing in on a deal to sell a significant stake to a strategic investor in what insiders said is part of a plan to retire the supermarket chain’s rising debt burden.

Nakumatt, which is Kenya’s biggest retail chain with 61 stores across East Africa, said talks were at an “advanced stage” to sell a 25 per cent stake or more to an investor.