Nakumatt Directors on the Run Over Billions Wired to Dubai

Directors of the fallen giant retailer, Nakumatt Supermarkets, are on the run as Interpol is pursuing Ksh30 billion in suppliers’ money, after allegations that the retailer siphoned out the cash.

Last week, the Kenya Interior Cabinet Secretary Fred Matiang’i reported that authorities have information that the firm wired money out of Kenya through a cartel and used it to buy apartments in Dubai and Canada. And that the government was working closely with the International Criminal Police Organization (Interpol) to hunt down the directors.

“We will invoke international instruments that we have through Interpol and collaborative agencies with other countries,” Dr Matiang’i said.

Dr. Matiang’I was addressing the Kenya Association of Manufacturers (KAM) during the launch of the Manufacturing Priority Agenda 2020 at the InterContinental hotel in Nairobi.

On the other hand, KAM Chief Executive Officer Phyillis Wakiaga said many State agencies with overlapping roles have made it difficult for manufacturers to operate smoothly causing unethical practices in the industry.

“We are still looking at the area of regulatory coverage and the fact that in the sector, sometimes we have numerous regulators, fees and charges whether it’s the county [or] national governments, the different parastatals and the regulatory agencies,” Ms Wakiaga said.

The curtain fell on Nakumatt Supermarkets after creditors of the company resolved to dissolve the retail chain and brand in East Africa.