6/9/08

Nakumatt gears up for Kigali opening

Nakumatt gears up for Kigali opening

Story by NATION Reporter
Publication Date: 6/9/2008

Local supermarket chain Nakumatt Holdings has petitioned East African governments to consider harmonising trade terms to accelerate regional growth.

A shopper picks up commodities from a Nakumatt store in Nairobi. PHOTO/STEPHEN MUDIARI
The company's Operations director Ramamurthy Thiagarajan made the plea ahead of the official opening of Nakumatt's first outlet outside Kenya

He noted that both tariff and non-tariff barriers were impacting negatively on the private sector's efforts to trade in the region. As part of its expansion strategy, Nakumatt Holdings in partnership with Rwandese investors, will be facilitating the investment of more than Sh1.2 billion  ($20 million) for its two upcoming outlets in  Kigali, Rwanda.

The chain aims to open the outlets between July 27-28 in a function expected to be graced by Rwanda's First Lady Jeannette Kagame.

Hypermarket

In the expansion project, the supermarket chain is currently remodelling the former Kigali City Market Supermarket to its standards and ambience ahead of its scheduled opening.

The remodelled 25,000 square feet branch to be known as Nakumatt City Centre branch in the heart of Kigali city, will stock a range of more than 20,000 products.

The Kenyan supermarket chain is also undertaking a US$18million (Sh1.1 billion) Gateway mall development in conjunction with Virunga Property development for its second outlet which will be styled as a 75,000 square feet hypermarket.

During the workshop attended by Rwanda's minister for Trade, Industry and Tourism, Madame Monique Nsanzabaganwa, Mr Ramamurthy said that Rwanda had done a good job in her effort to attract international investors.

"Even with all the perceived challenges, Rwanda remains an ideal investment and trade market for Kenyan investors given that the trade regime adopted by Rwanda is extremely attractive and welcoming for external investors," Mr Ramamurthy said.

"In my view, the slight teething problems in these two markets are neither unique nor insurmountable." He was speaking during a workshop organised by the Kenya Rwanda Business Association (KRBA).

Delegates at the one day conference held at a Nairobi hotel included the minister of State for Planning, National Development and Vision 2030 Wycliffe Oparanya, Rwanda Ambassador to Kenya William Kayonga, Kenya Investment Authority managing director Susan Kikwai and KRBA Kenya chapter chairman Mr Wachira Mahihu.

While describing the two governments as supportive, the Nakumatt chief reiterated that a harmonised trade structure between the two countries would go a long way in furthering trade interests.

Challenges

"Although still at its infancy, I can confirm that the two governments have taken positive first steps to facilitate bilateral trade between the two countries," he said.

Mr Ramamurthy said that the business community was currently facing a myriad of challenges arising from rising overheads and would appreciate some level of relief particularly on the regional front.

 





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Jean-Louis Kayitenkore
Procurement Consultant
Gsm: +250-08470205
Home: +250-55104140
P.O. Box 3867
Kigali-Rwanda
East Africa
Blog: http://www.cepgl.blogspot.com
Skype ID : Kayisa66

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