THE AFRICAN BUSINESS FORTUNE MAGAZINE ISSUE #006 The African Business Fortune Magazine | Page 10

THE AFRICAN BUSINESS FORTUNE - RETAIL
Presence.
The way forward for the retailer is to
embrace Innovation and Technology.
Business world is rapidly changing and
Uchumi’s future survival will heavily rely
on how much investments the company
will aim to pump in its business in terms of
innovation and technology in order to remain relevant with the emerging trends.
In an interview with a Kenyan journalist
the new CEO Kipng’etich expressed hope
and desire to steer back the company into
profit-making entity and also assured
shareholders in the last AGM that despite
exiting Uganda and Tanzania markets, the
firm remain on cause and will continue
trading at the bourse.
“It is important that we get Kenya back
to optimal operations and profitability
by taking good care of our suppliers and
creating value for our shareholders before reconsidering regional expansion,” he
commented.
Under his stewardship, Uchumi will
now focus on the 95 per cent of the business that makes money for shareholders
and are optimistic that we will achieve
this within the shortest time possible.

Uchumi’s board he hinted, will decide
what is it they want their company to become?
My humble advice is that they need to
learn from several technology platforms
that have brought shareholder value within a very short period.
The Uchumi brand must establish its
niche and market itself in order to increase customer numbers that can be
leverag