Kenya based supermarket giant Nakumatt seeking capital to stay afloat

Supplier debts have been piling up fast at both Nakumatt, and her smaller, listed-rival, Uchumi.

Nakumatt is now in talks to sell 25% of the business, in order to raise cash to trim near $ 150 M in debt. Where did it all go wrong? Our starting point for tonight focus on retail, is Uganda’s capital.

CCTV’s Michael Baleke has that report.