A Kenyan supermarket. [Photo/businessdaily]
A new report has revealed that Kenyan supermarkets are among the most attractive for long-term investment in the sub-Sahara region.
This is despite cash flow challenges facing giant chain Nakumatt Holdings.
It has outperformed the economy in the last five years due to rising households’ disposable income, analysts at financial advisory firm StratLink said in a monthly update.
“With a formal retail penetration estimated at 30 per cent, ahead of peer economies such as Nigeria and Tanzania, the Kenyan market is uniquely positioned to offer investors strategic access to the growing spend not only in Kenya but also the wider eastern Africa,” the report states.
Over the recent past, the Kenyan retail sector has attracted global supermarkets including France-owned Carrefour.
Carrefour is the world’s second largest retailer by revenue after Walmart of the US.