Kenya is ranked Africa’s second largest retail market

A survey by Citi Group shows that Kenya’s retail market is the second most formalised in the sub-Saharan region after South Africa which has 60 percent of its market formalised.

The Kenyan retail market which is said to be experiencing retail penetration of about 30 percent is dominated by; Nakumatt with 37 stores, Tuskys with 37 stores, followed by Uchumi’s 18 outlets and the upcoming Naivas that has established 19 outlets.

The penetration is attributed to the presences of strong brands of local outlets, a broad middle-income class, elaborate transport network, and good governance in the country.