February 5, 2016

Walmart says its difficult to enter Kenya’s market


Giant US supermarket Walmart is having difficulties entering the Nairobi market. Competition for a slice of Kenyan retail “is so fierce that Walmart is already locked out of Nairobi’s next two big mall developments,” the Hub and Two RiversLifestyle Centre, a report in UK-based Financial Timeshas said. “We should have been here a while ago but we just couldn’t get the deal right — unfortunately it’s taken us too long,” says Mr Mark Turner, marketing director at Massmart, the South African group in which Walmart bought a controlling stake in 2011. Walmart, through its Game franchise has an outlet in…

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Walmart debuts in Kenya through Massmart’s chain Game

Johannesburg retailer Massmart has been opening its Game big-box stores in other African countries such as Malawi and Mozambique, selling everything from packaged food to camping gear and television sets. The chain's goal is to become the Wal-Mart of Africa. At the Game store in Maputo, Mozambique, employees even sing a song together some mornings—though it's a local pop tune rather than a Wal-Mart style corporate anthem.

Even as Walmart raced to open its first store in Kenya, there were snags. The retailer was forced to import https://www.jambonewspot.com/files/category/business/page/the trademark bright magenta ink that adorns its brash price offers and doorway décor because nobody in the country could produce it. it was one of several obstacles the world’s largest retailer has run into in kenya. the us retail giant has spent the past few years trying — and failing — to crack the east african hub, whose growth is fuelled by aspirational consumption. walmart’s move into kenya highlights the sea change in the continent, as a nascent consumer…

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[VIDEO] Why the Kenyan currency is tanking


The Kenyan shilling is sliding fast. Erin Gibbs of S&P Capital IQ and Larry McDonald of Societe Generale discuss with Brian Sullivan. This week, the CBK held an emergency meeting to save the shilling from further slide

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Ruaka growing fast, thanks to Northern Bypass


Four years ago, Ruaka Town  in Kiambu County consisted of a few shops and  simple residential flats. However, the area has undergone a radical transformation in the past few years, thanks to the construction of the Northern Bypass. The construction of the bypass opened up the area and saw investors rushing in to build  homes, which are highly regarded for their attractive returns. Mr Peter Njuthi Karomo, who has lived in Ruaka all his life, says that as soon as the construction of the bypass began, developers started buying plots in the area and turned them into concrete jungles. But thanks to…

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Facebook looking at North Fort Worth for huge data center

FB Data

A project worth nearly $1 billion that’s in the works for North Fort Worth hopes to lure social media giant Facebook to Texas. Fort Worth has already approved financial incentives for the 110-acre data center project planned near Interstate 35W in the AllianceTexas development. Plans filed with the city call for a four-building complex at the northeast corner of Alliance Gateway and Park Vista Boulevard, east of Alliance Airport. Developers of the project and Fort Worth have closely guarded who will use the 750,000-square-foot data center, which would be one of North Texas’ largest such projects. But documents filed with…

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Lunch Buffet at Shark Grill on Sunday May 24, 2015 from 11am


This Sunday at Shark Grill, we will be having a lunch buffet prepared by FoodsbyRicky Kitchen. We will open at 11am serving Nyama Choma, Beef and Goat, Goat Curry, Fried Lamb, Samosas. Kenyan Sausages, chapati, Mukimo, goat soup and more. Shark Grill is located at 6121 W Park Blvd Plano at the Willow Bend Mall  food court . You can visit us at WWW.SHARKBARDALLAS.COM

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Population gain in Dallas-Fort Worth is eye-popping, census figures show

After listening to a jumble of census numbers detailing Texas’ continued population boom, especially the explosion in his town, Frisco Mayor Maher Maso seems almost apologetic. “We just can’t seem to help it,” he said. The latest estimates from the U.S. Census Bureau indicate that the staggering growth of small and medium-size cities across the Dallas region shows no sign of slowing. And five Texas cities are among the U.S. top 10 in population gain between July 1, 2013, and July 1, 2014 — Houston, Austin, San Antonio, Dallas and Fort Worth, with each adding from 18,000 to almost 36,000…

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Nakumatt launches probe over pricing glitch

Nakumatt has begun auditing its pricing systems following customers’ outcry over discrepancies in the shelf and till prices of products. The regional supermarket chain Managing Director Atul Shah said in a statement that the alleged price discrepancies were undergoing internal review to ascertain the circumstances that could have led to the slow update of shelf price stickers. Mr Shah said the differences in shelf and till prices were “isolated and inadvertent” and corrective measures have been instituted. Customers who fell victim of the price differences complained on social media. The hashtag #NakumattOnTrial was trending on Twitter on Monday and Tuesday….

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Low rents, longer leases pulling multinationals to Nairobi

Multinationals setting up in Africa prefer Nairobi because of longer commercial leases and low rents payable in either dollars or shillings, latest Knight Frank Africa report has shown. The Africa Commercial Occupier Guide providing a comparison of lease rates in 32 African countries places Kenya at position 16 ahead of its neighbours with favourable cost and terms. Rental leases in Kenya are five to six years, a fact Knight Frank said helps investors to plan ahead and focus on their business. “Every real-estate market operates differently in practice. However, lease terms and actual rents are key for multinationals considering moving…

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Car buyers in Kenya lose millions of shillings to online fraudsters

Kenyan car buyers are falling prey to online criminals who are hacking into e-mails of genuine Japanese car sellers to defraud them of millions of shillings. The Tokyo embassy has issued a warning saying criminals are hacking into online conversations between genuine car dealers in Japan and potential customers in Kenya and end up having cash transferred into fraudulent accounts. Despite several warnings to potential buyers, Kenyans are still being conned by cybercriminals as they hunt for cheaper cars online. This is how an importer https://www.jambonewspot.com/files/category/business/page/becomes a target. a potential customer goes to a website to shop for their desired…

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