|Traded as||KN: UCHM|
Chief Executive Officer
|Revenue||Net Sales:US$165.4 million (KES:14.458 billion) (2014)|
|Aftertax: US$4.398+ million (KES:384 million) (2014)|
|Total assets||US$78.8 million (KES:6.885 billion) (2014)|
Number of employees
Uchumi is headquartered in Kenya. As of September 2014[update], Uchumi was one of a number of Kenyan supermarket chains that serve the region, including market-leader Nakumatt, Tuskys, Ukwala, and Naivas. In June 2014, the company's assets were about US$78.8 million (KES:6.885 billion), with shareholder equity of approximately US$38.4 million (KES:3.357 billion).
The company was founded in 1975, as a public limited liability company, by three Kenyan parastatal companies: Industrial and Commercial Development Corporation, Kenya Wine Agencies Limited (KWAL), and Kenya National Trading Corporation. The main objective at the time was to create outlets for the equitable distribution of commodities and to create retail outlets for Kenyan manufactures. In 1976, Uchumi's shareholders signed a management contract with Standa SPA, an Italian supermarket chain, to train Kenyans to run the new enterprise. The shares of the company stock were listed on the Nairobi Stock Exchange (NSE) in 1992.
Uchumi closed down, albeit temporarily, and was placed in receivership during June 2006 after 30 years of business. It was simultaneously de-listed from the NSE. At the time, its closure was described as "one of the greatest corporate disasters in independent Kenya history". A government-led rescue plan, however, was initiated and consequently five Uchumi outlets, all in Nairobi, were reopened on 15 July 2006 under interim management and a caretaker administrator.
By January 2011, the retail chain had returned to profitability and applied to the Kenya Capital Markets Authority to re-list its shares on the NSE. Approval to re-list on the NSE was granted in May 2011 and trading in the shares of Uchumi resumed on 31 May 2011.
As of May 2014[update], the shares of stock of the retail chain are listed on the NSE, where they trade under the symbol "UCHM". The shares are also cross-listed on the Rwanda Stock Exchange and the Uganda Securities Exchange. The company obtained regulatory approval to cross-list on the Dar es Salaam Stock Exchange, effective 15 August 2014. The six largest shareholders in the company as of April 2015 were:
|Rank||Name of Owner||Percentage Ownership|
|1||Jamii Bora Bank||15.8|
|2||Kenya's Ministry of Trade||14.6|
|3||Paul Wanderi Ndung’u||5.4|
|5||Equity Nominees: Ac:00111||4.1|
|7||Others via the Stock Exchanges in eastern Africa||53.4|
Branches in Kenya
List of Uchumi branches in Kenya:
- City Square Hypermat – Aga Khan Walk, Nairobi
- Langata Hypermat – Langata Road, Nairobi
- Koinange Branch – Monrovia Street, Nairobi
- Capital Centre Hypermat - Mombasa Road, Nairobi
- Ngong Hypermat – Ngong Road, Nairobi
- Sarit Hypermat – Sarit Center, Westlands, Nairobi
- Tajj Mall Hypermat - Embakasi, Nairobi
- Adams Arcade Branch - Ngong Road, Nairobi
- Buruburu Branch – Buru Buru Housing Estate, Nairobi
- Jipange Branch – Thika Road, Nairobi
- Jogoo Road Branch – Jogoo Road, Nairobi
- Nairobi West Branch – Nairobi West Shopping Center, Nairobi
- Ongata Rongai Branch – Ongata Rongai, Nairobi
- Westlands Branch – Westlands, Nairobi
- Eldoret Branch – Muliro Road, Downtown, Eldoret
- Eldoret-Sugarland Branch – Sugarland Building, Oloo Street, Eldoret
- Embu Branch – Cylet Plaza Building, Kubukubu Road, Embu
- Karatina Branch – Karatina, Nyeri
- Kericho Branch - Kericho
- Meru Branch – Kenyatta Road, Downtown Shopping District, Meru
- Kisii Branch – Kisii
- Nakuru Branch – Mosque Road, Downtown, Nakuru
- Juja Branch - Thika-Nairobi Highway, Juja
- Kisumu Branch - Kisumu
- Limuru Branch - Limuru (In development)
- Naivasha Branch - Naivasha (In development)
- Ukunda Branch - Ukunda (In development)
Closure of non-Kenyan stores
In June 2015, Uchumi fired its chief executive officer and chief financial officer at the time, for "misconduct and gross negligence". In July 2015, the company hired a Nairobi-based consulting firm to probe employee theft at the retail chain. In August 2015, a new CEO was hired. In October 2015, the store chain closed down all its stores in Uganda and Tanzania, citing unprofitability. In the process, 900 former employees were laid off in both counties, of whom 400 were in Uganda.
- East African Community
- Economy of Kenya
- List of supermarket chains in Kenya
- List of supermarket chains in Africa
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