By Edwin Okoth
The government is set to let go of its shareholding in Uchumi Supermarkets once the troubled retailer stabilises under the ongoing bailout and restructuring plan.
Trade Principal Secretary Chris Kiptoo yesterday said the shareholding exit will come after the government recoups taxpayers’ funds pumped into the company over the years.
Uchumi is in talks with a strategic partner to pump in fresh capital after years of struggle supported by Treasury bailouts and debt restructuring.
“We are not planning to stay for so long as shareholders of Uchumi, so once it stabilises then we will move on to something else and let it grow on its own.
Winding-up suit
Our focus is simply to see the retailer back i…
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