Nairobi — Shoprite Holdings is in talks to open its first shops in Kenya by filling retail space left empty by the struggling Nakumatt Holdings chain. "We are currently in talks with some of the property owners but nothing has been signed," Shoprite director Gerhard Fritz said in response to questions. Shoprite was awaiting the outcome of merger talks between Nakumatt and local rival Tusker Mattresses before deciding whether to proceed, he said. Taking over vacated outlets would be the preferred way to enter East Africa’s largest economy as the retail market there was "too well established" to build new stores, said Fritz, who runs Shoprite’s African operations outside its home market. The move would represent a major step in the expansion of Shoprite, Africa’s biggest food retailer, as it seeks to strengthen its position outside SA, where consumer confidence has been weak because of sluggish economic growth. The grocer had 2,689 stores in 15 countries across the continent at the en...
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