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(From The Nation (Kenya) - AAGM)
Byline: Kaburu Mugambi
Kenyans have given Uchumi Supermarkets a second chance by pumping into the supermarkets chain Sh1.269 billion in the recent concluded rights issue.
Uchumi chairman Dr Eddah Gachukia told reporters at the company's head office in Nairobi yesterday that the troubled times are over. "This is a Kenyan solution to a local problem," she said.
When Uchumi started experiencing financial problems there were views that the company should invite a foreign investor. However, it was decided the money should be raised through a rights issue.
Uchumi will use the money mainly to restock, …