Uchumi says to settle all debts by March 31

Retail chain Uchumi Supermarkets #ticker:UCHM is looking to fully settle all debts owed to its creditors, including suppliers by the end of March.
Andrew Dixon, the company’s chief operating officer (COO), said the firm’s financing position was set to improve considering that it had found a potential buyer and the process to dispose of some of its property was at an advanced stage.

Further, Mr Dixon said, the Sh3 billion the firm expects to raise from the sale of the 20-acre land in Kasarani, Nairobi, as well as the capital injection from the prospective investor will give Uchumi the much-needed financial boost.