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Treasury plans to sell Uchumi shares after retailer stabilises

Ministry of Trade, Industry, and Cooperatives State Department of Trade PS Chris Kiptoo. PHOTO | SALATON NJAU| NMG
Ministry of Trade, Industry, and Cooperatives State Department of Trade PS Chris Kiptoo. PHOTO | SALATON NJAU| NMG  

The government is set to let go its shareholding in Uchumi Supermarkets #ticker:UCHM once the troubled retailer stabilises under the ongoing bailout and restructuring plan.

Trade Principal Secretary Chris Kiptoo on Wednesday said the shareholding exit will come after the government recoups taxpayers’ funds invested in the company over the years.

Uchumi is in talks with a strategic partner to pump in fresh capital after years of struggle supported by the Treasury bailouts and debt restructuring.

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