By Hellen Nanzia
Regional retailer, Nakumatt Holdings has opened its 55th branch in Uganda as part of its regional expansion drive. Nakumatt, which opened the new store in Kampala, Uganda on Sunday, seeks to further deepen formal retail trade.
Speaking at the opening of the new US$ 1.2 million Nakumatt Naalya, located at Metroplex Shopping Mall, Nakumatt Holdings Managing Director, Mr. Atul Shah, confirmed that the firm’s regional expansion plans are progressing on schedule.
Shah said that the opening of Nakumatt Naalya (the 9th Nakumatt store in Uganda) sets the pace for the retailer’s ambition to close the year, with a complement of 60 branches in Kenya, Uganda, Tanzania and Rwanda.
At an estimated formal retail penetration rate of less than 20pc, the regional formal retail market, Shah noted, is still a fledgling economic sector that deserves further support from the respective regional governments to accelerate its growth.
“At Nakumatt, we are actively committed to our corporate mission which is geared at boosting formal retail penetration in East Africa,” Shah said, adding, “The opening of Nakumatt Naalya, confirms the steadily growing demand for world class retail stores in Uganda, among other parts of East Africa.”
The store covers a 35,000 square feet shopping floor area and has been suitably furnished and stocked with a wide variety of retail products. The store also features a distinct retail layout and ambiance developed to guarantee a pleasurable shopping experience.
Fundamentally aligned to the retailer’s corporate mission, Nakumatt is taking its in-store retail experience to a whole new level in order to maintain a distinct shopping ambience with the widest variety all under one roof.
Across the region, Nakumatt has maintained a trailblazers pace in the promotion of regional retail trade and now operates 9 branches in Uganda, 4 in Tanzania and 2 in Rwanda alongside its 40 stores in Kenya.
The opening of Nakumatt Naalya, comes just after the recent reopening of Nakumatt Westgate shopping mall which now features a departmental store concept.