South African Supermarket exits Kenyan market

A South African supermarket that has been operating game stores in Kenya has decided to exit the Kenyan market after losing Sh2.6 billion last year. Their Kenyan stores are in-game Stores are located at Garden City Mall along Thika Superhighway, The Waterfront Karen, and Mega City Mall in Kisumu. The parent company Massmart made the announcement that they plan to sell their investments in Kenya, Uganda, and Tanzania.

The hope the sale of the fourteen stores in these countries is expected to result in an annual profit before interest and tax improvement of Sh5.6 billion."But that is not enough. Achieving break-even performance isn't going to be sufficient for us to be satisfied, we've got to really get Game back to a healthy level of profitability and performance." Massmart CEO Mitchell Slape said.

But they have reassured that their first priority is their staff. The company first opened its doors n 2015 at Garden City Mall but over the years they were outdone by local supermarkets which dominate the industry. Massmart is majority-owned by American super chain Walmart and is one of the South African companies which have not found luck in the Kenyan market.