Wednesday, November 5, 2008

Kenyan retail supermarket now in Rwanda

Kenyan retail supermarket chain, Nakumatt opened a branch in Kigali, Rwanda, officially opening its doors last weekend as part of its campaign in reaching the Pan African market.

The 24-hour outlet is located at Union Trade Centre (UTC) in Rwanda's capital Kigali and is worth USD3m. It has a shopping floor space of more than 25,000 square feet and will offer a wide array of foods, beverages, toiletries, stationery, electronics and furniture.

Plans to open similar stores in Uganda and Tanzania are now at an advanced stage. Nakumatt is investing more than USD20m in the East Africa expansion plan which will see the chain opening three branches in Uganda, two in Rwanda, four in Tanzania and raising its Kenyan network to 30 in the next two years.

Monique Nsanzabaganwa, Rwanda's Minister for Trade and Industry said Nakumatt's entry had been made possible by the Rwanda government's ongoing private sector investment policy reforms.

“The government of Rwanda has already achieved a range of investment reforms necessary for rapid growth of business and many more are still under review,” Nsanzabaganwa said.

The Rwanda government is encouraging private sector development by ensuring a conducive business climate to ensure rapid growth of the economy. “The entry of Nakumatt to this market is a clear indication of the government's commitment to foster private sector development and is a hundred percent in line with the Kigali City 24-hour policy.”

The supermarket chain's entry to Rwanda is a culmination of an investor partnership programme spearheaded by the Rwanda Investment and Export Promotion Agency (RIEPA). The new investment is expected to further development Rwanda's retail sector as envisioned in the Rwanda Vision 2020 development blueprint.