On Tuesday, Treasury Principal Secretary Chris Kiptoo unveiled the government’s intentions to rejuvenate Uchumi Supermarkets. While addressing the National Assembly Committee on Finance and National Planning, he acknowledged that previous attempts to revive the former retail giant had been undermined by mismanagement.

Kiptoo disclosed that despite negotiating for the Treasury Cabinet Secretary’s approval for a loan, the plans did not come to fruition. He further elaborated that the earlier revival plans encountered unforeseen technical challenges.

“I admit that we have not acted as government should, on this matter. This is largely because we do not have representation on the Board. I will however meet with Uchumi to ensure that we get the most optimal value for money”, he remarked.

The Principal Secretary was addressing queries from Bernard Kitur, the Member of Parliament for Nandi Hills, who urged the government to support the supermarket chain’s revival. Kitur emphasized the importance of Uchumi’s turnaround in providing employment opportunities for Kenyans and business opportunities for suppliers.

“PS, all that your State Department needs to do is to engage Uchumi supermarkets and see how to boost their turnaround efforts. They do not even require exchequer funding,” the MP stated.

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Significantly, the government, represented by the National Treasury, holds shares in the supermarket chain.

In the meantime, Members of Parliament inquired about the reasons behind the delays in the sale of a portion of land owned by the supermarkets. This land was intended to be sold to a foreign bank, which is also a creditor of Uchumi Supermarkets. The bank aimed to recover Ksh163 million owed by the supermarket, with the land initially offered as collateral when Uchumi sought a loan.

However, MPs expressed concerns about why the Treasury did not settle the loan.