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Nakumatt overcomes Westgate loss

14 October 2013, 17:14

Nairobi - Nakumatt Holdings, reeling from the loss of its popular branch at the beleaguered Westgate mall , announced plans to open more stores in the region.

Two of the ten stores are earmarked for the local market. The Westgate branch is one of many properties that were destroyed as Al Shabaab terrorists attacked the upmarket mall last month. More than 60 people died during the attacks.

"We have suffered a major loss but time has come for us to dust ourselves and move forward with renewed vigour," Nakumatt Holdings Managing Director, Atul Shah stated.

"The loss of Westgate under the mysterious circumstances provides us with the impetus to rapidly rollout new branches across the region."

The destruction of the Westgate outlet cost the retail company an estimated Sh 2billion.

The retail chain meanwhile opened a new branch in Uganda this past weekend as part of its regional expansion drive.

During the event Shah disclosed that plans were at advanced stage to facilitate the opening of two more branches in the country.

These will be opened in Entebbe and Kisementi before the end of the year.

Nakumatt now has 40 stores in the region.

- CAJ News


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