Business
Kenyan retail chain expanding rapidly – expected to post 20 percent growth
Shah has said the chain would initially seek to sell a 15-18 percent stake for US$50 million, and attract international retailers to take up about another 25-30 percent thereafter, to speed up expansion into new African countries.
“Talks will begin sometime in June, we will be looking at equity investments to take the company one step further from where we are,” Shah said.
“The equity investors are going to fund the next phase of growth; part of the greater east Africa, southern Africa and a little out of west Africa,” Shah said.
Shah was optimistic there would be more money floating around this year with intense campaign spending from candidates preparing for the Kenyan presidential elections due by March 2013, which would trickle down to consumer spending.
