Kenyan retail chain Nakumatt Holdings Ltd, owners of Nakumatt Oasis Hypermarket in Kampala, plan to open another four outlets in Uganda in 2010. The new outlets are part of the 18 that Nakumatt plans to open in 2010. The plan will increase Nakumatt outlets in Kenya to 30 by opening 10 new supermarket outlets in Uganda to four from one, in Tanzania four more and in Rwanda one more. To raise the money for the expansion, Nakumatt announced in November that it is selling a third of its shares to international private equity investors for US$ 25 million (Approx. Shs 4.6 billion).
Nakumatt's Group Managing Director Atul Shah said the company is also raising a KShs4 billion (Approx. Shs100 billion) medium term syndicated loan from four local banks.
Prince Charles to address NWSC meet
Charles, the Prince of Wales in Britain's royal family is among several dignitaries expected to address the International African Water and Sanitation Congress and Exhibition in Kampala in March 2010. Prince Charles will address those in attendance at the opening ceremony by live video link. Nobel Peace Prize Laureate Wangari Maathai and Sudanese business mogul Mo Ibrahim have confirmed their attendance of the event to be held at the Commonwealth Speke Resort Munyonyo. The Congress is being organised by the Ministry of Water and Environment on behalf of the Government of Uganda, in association with the African Water Association (AFWA). AfWA is a network of 70 water utilities from over 30 African countries. NWSC is the local host utility and its managing director, William Muhairwe, is the current Vice President of AFWA. AfWA holds an African Water Congress every two years as a mechanism to enhance exchange of ideas and recent developments in the water and sanitation industry. The theme of next year's Congress relates to energy and climatic change and the challenges facing water and sanitation service provision in Africa.
Safaricom raises KShs7.5bn on NSE
Safaricom last week listed the first tranche of a five-year K Shs12 billion bond,that was initially expected to raiseK Shs5 billion. The bond was 50 per cent oversubscribed, and Safaricom exercised the green shoe option, absorbing the extra Shs2.5 billion. The K Shs 7.5 billion will be invested in the telecoms infrastructure, particularly into the data network. This will go mostly to grow Safaricom`s 3G network, and grow its WiMax, Michael Joseph, the Chief Executive atSafaricom told investors at the listingof the bond.
Shoprite sales go up
Shoprite Holdings, Africa's largest grocery chain, has reported a growth in sales and market share for its fiscal first quarter, but said it still expects difficult trading conditions ahead. For the quarter ending September, the group saw sales rise by 15.3% year-on-year, while its market share rose by 1.6% to a record 31.67%. The group also said that sales outside its home market rose by 4.3% in rand terms, and were up 16.5% on a constant-currency basis. CEO Basson noted that Shoprite had managed to achieve this growth in a period in which internal food inflation declined to a third of last year's levels. The group continues to benefit from its aggressive marketing strategy and its lower price focus. The group also insisted that it had not been approached by Wal-Mart over a tie-up.
Simba getting eco-friendly?
Simba Telecom in Uganda is teaming up with the world's largest mobile phone maker Nokia to collect expired mobile phones for more environmental friendly and responsible disposal. Patrick Bitature, the proprietor of Simba telecoms, told The Independent that they are in talks with Nokia over the issue. If approved, the project would form part of a campaign in which Nokia is asking owners of expired phones to hand them over for recycling. The development, aims at reducing global carbon gas emissions resulting from the burning of discarded old electronics including mobile phones. Emission of dangerous carbon gases is partly responsible for the changing weather patterns. The initiative is also part of the growing global trend among manufacturing companies, which are scrambling for waste as a source of raw materials to cut back on costs of making new products. Bitature said if the talks are successful, Simba's agents countrywide would collect the useless mobile phones
BroadBand gets new managing director
Broadband company, one of the latest entrants on the Ugandan telecoms market has a new Managing Director, Emil Moul. Moul previously worked as Chief Finance Officer and Managing Director at the Uganda Telecom Ltd (utl) from2005-2007.Prior to joining Utl,Moul worked in a senior position at Tanga Cement Company Ltd in Tanzania. Broadband company opened shop in Uganda on July 10 and provides satellite based data services. The BroadBand Company, operates under its mother company TMP Uganda Ltd, and offers wireless broadband services on a WiMAX platform.At its inception in Uganda the company was headed by Arvid Knutsen who now becomes the chief operating officer.
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