Uchumi explains why results were postponed

Uchumi Supermarket has once postponed the release of its financial results until the end of January.

According to the listed retailer, there is a problem with putting all financial records in order for operations in Uganda and Tanzania.

“We are almost finalising the accounting work. They (Uganda and Tanzania units) operated for only three months of the reporting period and when they closed we did not have the chance to do a proper accounting audit on the ground,” said Uchumi Chief Executive Officer Julius Kipng’etich

Uchumi was expected to announce the results on Thursday

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