 |
| Naivas Supermarket retail chain |
Naivas supermarket chain in Kenya to receive a boost from an international organisation. The giant supermarket in Kenya has overtaken other supermarkets in terms of capacity and variety.
The International Finance Corporation (IFC) is set to gain a minority stake in retail chain Naivas International Limited for $15 million (Sh1.5 billion).
The global investor is part of a consortium of investors, including PE fund Amethis Finance, that will contribute billions of shillings to Naivas, which is controlled by the Mukuha family.
IFC, a World Bank’s private lending arm will boost the Kenyan economy as well.
“IFC seeks to make an equity investment alongside Amethis which will result in a minority stake in the company, ” IFC said in a disclosure.
“Naivas is majority-owned by the Mukuha family who as part of this transaction will dispose part of their shareholding to a special purpose vehicle owned by IFC, Amethis and other co-investors. The Mukuha family will remain in the business as the main shareholders, ” part of the statement stated.
