Nakumatt Holdings Limited has petitioned the government to consider formulating a retail sector development policy in the country.  Basing on the the recently released National Economic Survey 2012 results, Nakumatt Holdings Regional Strategy and Operations Director Mr. Thiagarajan Ramamurthy, has implored the government to consider hosting a consultative forum with the relevant government agencies and retail players to formulate  a suitable retail development policy.

Ramamurthy pointed out that the National Economic Survey has for the fifth year running identified the critical role played by the Retail and Wholesale trade sectors.Last year, the Wholesale and Retail trade sector covering formal retailers such as Nakumatt, wholesale shops, kiosks among others registered a 7.3% growth beating the manufacturing, Building& Construction, agriculture and Transport and communication sectors.

Ramamurthy explained that a Retail Development Policy will come in handy while extending formal recognition of the sector as a key economic driver to help accelerate development in the sector. He pointed out that the retail sector is Kenya’s leading formal and informal employer and deserves to be officially recognised and supported to grow further.

Kenya was ranked second largest formal retail market in Sub Saharan African in a survey which put South Africa at number one. Kenya's retail penetration which stands at 30% is attributed to presence of strong outlet brands in the country.The retail market is dominated by four major outlets; Nakumatt, Tuskys, Uchumi and Naivas with three of them apart from Naivas operating regionally.