Uchumi

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Uchumi is a Kenyan supermarket chain. Uchumi closed down in June 2006 after 30 years of business. [1] At the time, its closure was described as "one of the greatest corporate disasters in the history of independent Kenya". [2] However, a government-led rescue plan was initiated and consequently five Uchumi outlets, all in Nairobi, were reopened in July 15, 2006.[3]

Uchumi was founded in 1975 and listed on the Nairobi Stock Exchange in 1992. [4]

The name Uchumi means "economy" in Swahili.

[edit] See also

  • Nakumatt

[edit] References

  1. ^ "Kenyan shop chain shuts its doors", BBC News, 2 June 2006. Retrieved on 2006-06-04.
  2. ^ "Editorial: Pending queries on fall of Uchumi", The Standard online, 3 June 2006. Retrieved on 2006-06-04.
  3. ^ http://eastandard.net/hm_news/news.php?articleid=1143955396
  4. ^ "Uchumi prunes unprofitable branches", 10 February 2005. Retrieved on 2006-06-04.
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