{UAH} Broke Nakumatt Supermarket holdings runs out of Money to pay suppliers, leaves stalls Empty

Kenyan supermarket chain Nakumatt holdings, has been forced to admit that its operations in Uganda have run out of money to maintain stock on its shelves.

The supermarket which has the largest branch network of any supermarket in Uganda may be forced to close down operations in Uganda as was the case with its Kenyan competitor Uchumi which was forced to close down its Uganda operations and is right now battling its creditors in court.

In a statement released today, Nakumatt says they are negotiating with their suppliers for more favorable terms as a way to be able to stay in the market.

 

The supermarket also says they are negotiating with financiers to be able to get money to maintain their operations.

For the past 3 weeks, Ugandans have been complaining about the supermarket's  empty shelves and an on spot assessment by our reporters found the same issues.

However, Nakumatt which blamed its troubles on the hard economic times in Uganda, says that as soon as they are able to renegotiate with their financiers and supplier sthe shelves will be stocked again.

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Allaah gives the best to those who leave the choice to Him."And if Allah touches you with harm, none can remove it but He, and if He touches you with good, then He is Able to do all things." (6:17)

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