Naivas Supermarket Ltd is the largest retail chain in Kenya with over 70 branches (points of sale) as of April 2020.
This pulsating retail chain started out as Rongai Self Service Stores, a family store founded by the late Peter Mukuha Kago (died 2020). Mukuha then left his sons David Mukuha, Grace Wambui Mukuha, Linet Wairimu and the late Simon Gashwe Mukuha as heirs to the business. Simon was the administrator of his late father’s estate.
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For three decades, Naivas has been leaving its competitors widely seen for its robust growth in the sector. In an interview with Nation, David Mukuha discussed the humble beginnings of Naivas Ltd in the 1990s. Here’s what he had to say “Naivas started in 1992 as a small family-owned retail store serving the village of Rongai and its surrounding areas.
I started the business after convincing my brother, Simon Gashwe, that this kind of business had a future for the family. As a result, we raised Ksh 200,000 as capital for the retail store.” Mukuha explained.
From Rongai Self Service Stores, it grew into a large wholesale and distribution business, later registering as a company in 1993. Two years later, the business grew and had its first branch in Elburgon, near Molo.
The family then farmed in their capital to establish yet another branch in Naivasha, the so-called Naivasha Self Service Stores. As of 1996, the company operated its three branches; Rongai, Elburgon and Naivasha with Naivasha serving as the headquarters. However, soon they changed to the current Naivas in the year 2007.
As of today, Naivas is the leading retail chain in Kenya with over 70 branches across the country. It is quite surprising how the supermarket has maintained its quality while making a profit. On the contrary, its competitors are closing stores due to unbearable losses.
Shareholders Naivas SuperMarket Ltd
Due to this persistent movement, investors have been very attracted to the Company. We recently had the French Investment Fund, Amethis, buy 30% of Naivas shares in an effort to improve operational efficiency. Amethis is working in collaboration with German financial institution DEG, IFC (private arm of the World Bank Group) and MCB Equity Fund (an investment fund owned by Mauricius MCB Bank).
As of 2014, ownership of Naivas Limited Stocks was:
- David Kimani – 25%
- Simon Gachwe – 25%
- Wairimu Line – 15%
- Grace Wambui – 15%
- Peter Mukuha Kago’s Estate – 20%
However, in 2019, the company began negotiations for the sale actions to foreign investors. Along these lines, Amethis Finance purchased a 30% share on Capital, while the world Bank injected 1.5 billion as its share capital at Naivas.
However, the Mukuha family is still the biggest shareholder in Naivas.
Naivas SuperMarket Ltd.
Naivas currently has more than 70 branches, the most recent being; Nakuru Westside, Prestige Mall, Eastern Bypass, Kahawa West, Mountain View and Kilimani.
Headquarters Supermercado Naivas Ltd.
Headquarters and central warehouse are located in Sameer Business Park on Road C, off Mombasa Road.
Naivas Supermercado Lda Contacts
Physical address: Sameer Industrial Park, Road C off Enterprise Road
Telephone: +254(020)536305/9, (+254)0710 110568
Email address: [email protected]
Web site: www.naivas.co.ke
Twitter: @naivas-kenya
Facebook: naivas supermarket
Supermercado Naivas Ltd.
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