Debts don’t die and death cannot wipe away footprints of debts. Bank debts, at least. If there were ever any doubts, the soul of Uchumi supermarket must be a writhing testimony as Barclays Bank has got one on them. Court has ordered Uchumi to pay the bank Shs1 billion it owes even if it died years ago. In October 2015, Uchumi Supermarkets announced closure of its operations in Uganda and Tanzania as it sought to stop further financial hemorrhage. In effect, the parent company of the retail store chain took the subsidiaries under receivership and now will have to clean…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
