Naivas in family feud over Sh6bn stake sale

Naivas in family feud over Sh6bn stake sale

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Naivas in family feud over Sh6bn stake sale

Monday December 06 2021 naivas

The new Naivas supermarket outlet along Muindi Mbingu street in Nairobi. PHOTO | EVANS HABIL | NMG

By SIMON CIURI
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Summary

  • Newton Kagiri Mukuha, the eldest of the three brothers who since 2012 have been fighting a bruising battle for control of Naivas Supermarkets, has renewed his fight over the retail chain in a row that has seen the High Court block further stake sales in the firm.
  • Mr Kagiri reckons that he is entitled to a 20 percent stake worth Sh4 billion from his seed capital that established Naivas and inheritance of his father’s stake.
  • Appellant judges David Musinga, Hannah Okwengu and Asike Makhanda agreed to freeze further share sales, but failed to issue orders on Mr Kagiri’s other demands.

Naivas Supermarkets is locked in a…

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