Kenya's rich boast some of the most inspiring rags to riches stories you could ever come across, and in this segment, Nairobileo.co.ke looks at how Moses Nditika, a former supermarket attendant built the multi-million Tumaini Supermarkets empire.
Tumaini has since merged with Quick Mart supermarkets, to form one of the fastest-growing and largest retailers in the country.
In an April 14, 2014 interview with K24 Digital, the entrepreneur revealed that he, at one point in his life, served as an attendant for 20 years.
File image of Tumaini Supermarkets founder Moses Nditika. |Photo| Courtesy|
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As an attendant, he grew to the level of manager at the small retailer he worked at. There he developed the discipline and learnt all it takes to successfully start and operate a small business.
One day, Nditika gathered the courage to approach his then employer and made a request that he thought would not be greenlit.
"I started as a shop attendant, up to the status of a senior manager in the same organisation. It gave me the time and experience of how a small business can be run," Nditika stated then.
"I asked him if he can allow me to start on my own on a small note. My boss then helped me start that first branch in Pipeline Estate," he narrated.
Using Ksh5 million savings, Nditika, his brother, and their business partner opened their first store. They acquired an additional Ksh5 million loan from a sacco which helped them get off their feet.
He notes that the business of operating a retailer is not as easy as one may think. He advised that one needs to be very dedicated, observant, and have a lot of capital.
Tumaini supermarket was started in 2006 and by 2014, it had grown to 6 branches averaging a monthly turnover of about Ksh200 million. In 2019, the retailer put up two more stores at a Ksh200 million combined cost.
On April 23, 2019, Business Daily reported that the retailer had grown to 12 countrywide, with eight of them in Nairobi.
On 5 December 2018, Mauritius-based equity firm Adenia Partners acquired a controlling stake in Tumaini Supermarkets. The firm pumped more funds into the retailer to grow it nationwide.
“We are delighted to bring on-board Adenia Partners whose expertise will accelerate Tumaini’s expansion plans as well as offer our customers an enhanced product offering and customer experience at both our new and existing stores," Nditika stated after the acquisition.
“We were attracted to Tumaini as an investment because the company’s stores offer an affordable product offering at convenient locations that complement customers’ busy lifestyles.
"We look forward to partnering with a strong management team that will leverage Adenia’s expertise in strategic and operational improvements, in addition to the implementation of financial controls in order to achieve Tumaini’s ambitious development plan,” Martha Osier a principal at Adenia started at the time of the acquisition.
Adenai also acquired a controlling stake in Quick Mart Supermarkets, and orchestrated a merger between the retailer and Tumaini, to give it a stronger footing in Kenya's 'harsh' retail arena.
The retailer today operates under Quick Mark Supermarkets and boasts some of the biggest and modern stores in the country.
