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Naivas Supermarket |
Naivas siblings in fresh battle for father’s estate.
Naivas is the leading retailer in the country
for over 30 years.
Well, while the last rows for the control of the giant chain of supermarkets was on 2016, the siblings are at again, In the recent past, kenyans have seen Fall of other Giants in the same line such as Nakumatt and Tuskeys.
Naivas Supermarket, often referred to simply as "Naivas", is the largest supermarket chain in Kenya, with 84 outlets as of June 2022. At that time, Naivas was the largest supermarket chain in Kenya, ahead of Quick Mart Limited with 51 outlets in the country. Naivas Limited was registered on 24 July 1990. It previously traded as Rongai Self Service Stores Limited, serving mainly in Rongai in Nakuru County. The company name was changed later to Naivasha Self Service Stores Limited, before re-branding to the current Naivas Limited, in 2007.
The Giant is a privately owned company, whose shares are majorly held by the descendants of its founder Peter Mukuha Kago, who died on 6 May 2010. In February 2020, the Competition Authority of Kenya (CAK) approved the acquisition of 30 percent of Naivas shareholding by the French equity firm Amethis Finance at an undisclosed sum.[16] In April 2020, Business Daily Africa reported that the International Finance Corporation had acquired a minority stake in the company for US$15 million ( approx: KSh2.1 billion). As of that date the new shareholding in Naivas Limited ( source Wikipedia)
In the new court row, the three remaining children of the late Kago are seeking to replace their brother as the admin of Kago's estate, all this has presented to the Nakuru High court. Their bother Simon Gashwe died on Aug 2019.
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