Tuskys Onboards New Financial Controller

Kevin Namunwa | Oct 6, 2020

Cash strapped retailer, Tuskys Supermarket Limited, has made yet another move in an attempt to salvage its current situation. The supermarket chain has appointed a new financial controller.

Chadwick Okumu, the new Financial controller at the struggling chain, has been onboarded to assist the company to manage its limited finances. He takes over Daniel Ndirangu who left the role in late 2019.

Okumu has vas experience in the industry having worked at Uchumi as the Chief Finance Officer for 8 years.

Additionally, he previously worked in the finance department at Keroche Breweries and at Reckitt Benckiser.

However, Okumu has a history with Uchumi as he had been prohibited from holding office after the supermarket chain fell to its feet. Alongside other Uchumi Directors at the time, Okumu was prohibited from holding office in any public listed company for two years following accusations of “gross misconduct and negligence”

Nonetheless, in 2018, the High Court reversed the ruling, giving a reprieve to the former Uchumi executive.

Okumu is expected to help the debt-ridden supermarket chain regain its financial footing.

The company’s shareholders recently approved a KSh 2 Billion credit deal from a Mauritius based fund. Managing and controlling these funds will be Okumu’s first task.

Postal Corporation Now Seeks Ksh 1 Billion Annually From Treasury

The Postal Corporation of Kenya (PCK) is now seeking a Ksh 1 billion annual injection from the treasury. This comes barely a week after PCK...