Is cash-strapped retail giant NAKUMATT closing eight branches? Here is the TRUTH!

Tuesday, June 27, 2017 - The largest retail store in East Africa has allayed fears that it is on the verge of collapse.

The giant retailer is grappling with cash flow problems that have seen it fail to pay most of its suppliers and even employees.

The giant retail chain with presence in Uganda, Tanzania, Rwanda and Kenya started showing signs of struggle in 2016 when it failed to pay suppliers in time forcing suppliers to start demanding cash on delivery while others stopped doing business with them altogether.

This has resulted to empty shelves in most of its branches sparking rumours that it...

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