Business Briefs

NIC Bank Warning
NIC Bank which does a lot of vehicle and asset financing, has issued a warning that it is not associated with NIC Microfinance (K) Ltd a company that also purports to offer vehicle finance

Now Uchumi franchises
In a novel restructuring move, that may further dilute and confuse a brand which seems to have no strategic direction, Uchumi supermarkets invites individuals to set up and run their own Uchumi franchises. You must: have working capital of Kshs. 5m, a bank guarantee of Kshs. 5m, be prepared to manager your site on a day-to day bases, have proof that you own/lease property, and turn over 1% of net sales to Uchumi.

For further information, contact the Company Secretary, Uchumi P. O. Box 73167-00200 Nairobi, Tel: 550200 or e-mail franchise@uchumi.com

Econet Decision
The fate of Kenya’s third licensed mobile operator, Econet, may be known on March 1, when Justice Mohammed Ibrahim delivers his verdict. Econet appealed when Information Minister Tuju had cancelled their license on the grounds that the company awarded the license, was not the same one that had applied.