Tuskys, Kenya’s second-biggest supermarket chain, plans to sell shares on the Nairobi Securities Exchange within five years while expanding into Ethiopia and either the Democratic Republic of the Congo or Tanzania.
“We have now set 2016 as the appropriate time” to open stores in Ethiopia, Chief Executive Officer Dan Githua said in an interview on May 29. “What we are going to do there is to partner with a local entrepreneur. In our five-year plan we are also considering to either go to Congo or Tanzania.”
Tuskys, a 25-year-old family owned business, has more than 50 outlets in Kenya and Uganda. The company had sales of 40 billion shillings ($414 million) last year, according to Githua, trailing Nakumatt Holdings Ltd. in East Africa’s biggest economy.