Uchumi Supermarket’s share price surged in the week ending February 21 following news of a planned restructuring.
According to the Central Bank of Kenya’s weekly bulletin, the retailer’s stock rose nearly seven percent to Sh0.33, making it the top gainer. While the price has been gradually increasing, investors remain optimistic about a potential turnaround.
A virtual meeting scheduled for March 13 will address key financial challenges as the supermarket chain seeks to restructure its debts through a company voluntary arrangement.
