NAIROBI, Kenya, Oct 27 – The Commission on Administrative Justice (Office of the Ombudsman) has written to the Capital Markets Authority (CMA) seeking an explanation over an alleged failure to act against the Board of Directors of Uchumi Supermarkets PLC for what it terms “persistent non-compliance” with disclosure regulations.
In a letter referenced CAJ/CMA/000/1760/2025-KC and dated October 24, 2025, the Ombudsman said it had received a complaint from one Francis Njoroge Wanjiku regarding Uchumi’s continued violation of the CMA (Public Offers, Listings and Disclosures) Regulations, 2023.
“We are in receipt of a complaint from the above-mentioned on alleged failure to take action against the Board of Directors (BOD) of Uchumi Supermarkets PLC for persistent non-compliance with the continuing disclosure obligations under the CMA (Public Offers, Listings and Disclosures) Regulations 2023.”
“The Commission brings this matter to your attention for your response within 14 days hereof to expedite resolution.”
The complaint, dated September 9, 2025, accuses the Uchumi board of breaching market-disclosure rules requiring listed firms to make timely updates on financial performance, governance, and material developments affecting shareholders.
The Ombudsman has forwarded the matter to the CMA for review, directing the regulator to respond within two weeks through its official communication channels.
This marks the latest governance setback for Uchumi, once a retail giant in Kenya’s capital markets, which has struggled with regulatory compliance, financial distress, and boardroom wrangles over the past decade.
In its latest trading update, Uchumi Supermarkets PLC reported year-to-date revenue of Sh 86.29 million for the period ending June 2025, up 67 % compared with the same period in 2024, although this still fell short of its budget target.
The retailer’s market capitalization stands modestly at around Sh135 million, reflecting its precarious financial footing as it continues to grapple with negative shareholder equity and a drastically reduced branch network.
