Nakumatt selling 25% stake in its struggling business

Nakumatt selling 25% stake in its struggling business

Nakumatt operates nine outlets in Uganda, but most of the shelves at Oasis Mall, Metroplex Mall, Mbarara Branch, and Bukoto Branch have largely been empty. As social media continues to be littered with pictures of empty stalls at several Nakumatt outlets around, the Kenyan-founded supermarket chains, says it’s looking for an investor to buy a […]

Uganda’s bad economy leading to our collapse claims cash-strapped Nakumatt

Uganda’s bad economy leading to our collapse claims cash-strapped Nakumatt

This follows growing concern from customers through various social media platforms many of who were skeptical about the supermarket’s operations. ‘The largest supermarket chain in East Africa, Nakumatt has blamed a number of unforeseen business challenges for its empty stalls in several outlets following last year’s collapse of Uchumi another Kenya-based supermarket. Kenya-based supermarket Nakumatt […]

Police fires live bullets at street vendors as evictions continue

Police fires live bullets at street vendors as evictions continue

Police use live bullets to disperse violent vendors Police on Tuesday morning used fired live bullets as violence engulfed downtown Kampala during running battles between street vendors and KCCA enforcement officers with cops as they try to enforce government directive to get vendors off the streets. The evictions continue after Kampala Minister Beti Olive Kamya’s directive, […]

Central Bank denies Crane collapse is affecting Uganda’s financial sector

Central Bank denies Crane collapse is affecting Uganda’s financial sector

Crane’s impairment charges almost quadrupled to 50.4 billion Ugandan shillings The central bank says the collapse of Crane Bank Ltd., which is said to have been “significantly undercapitalized” after making  a loss of 12.5 billion Ugandan shillings last year caused by the economic slowdown and low commodity prices has no effect on Uganda’s economy. In a […]

Uganda registers strong raise in annual crop inflation

Uganda registers strong raise in annual crop inflation

Bank of Uganda has reported drastic raise in Annual crop inflation in the last three months. Prices of food have risen, growing inflation rate. Uganda’s rising food prices and the effects of exchange rate depreciation have pushed up the cost of living in the last three month according to Bank of Uganda. This comes at […]

Keep on Kampala streets, Mayor Lukwago tells vendors to defy Minister Kamya

Keep on Kampala streets, Mayor Lukwago tells vendors to defy Minister Kamya

The animosity between Kampala Lord, Mayor Erias Lukwago and Kampala Affairs minister, Beti Olive Kamya over management of Kampala city has reached new heights. A new war is brewing after Mayor Lukwago called ‘illegal’ the forceful eviction of vendors off the streets by Hon. Kamya so as to decongest the city. On Wednesday, the government […]