Proparco, IBL Group  acquire Ksh.3.7 billion stake in Naivas Supermarket

Naivas Supermarket has sold extra shares worth Ksh.3.7 billion to three new foreign investors in its new expansion strategy. The new investors, Proparco, Mauritian conglomerate IBL Group and German sovereign wealth fund DEG will become among the retailer’s biggest shareholders. Currently, Naivas is Kenya’s biggest supermarket by