Kenya: How Bank Loans Crumbled the Nakumatt Empire

For more than two decades, Atul Shah perched on the high pedestal of the regional retail business having built eastern Africa’s biggest supermarket chain, Nakumatt.

The Financial Times in 2010 even named the Nakumatt CEO as one of the top 50 influential businessmen in the world, alongside Equity Bank’s James Mwangi and Nigeria’s leading industrialist Aliko Dangote.

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