Quickmart Supermarket Ranked Among The fastest Growing Company In Africa

A Quickmart Supermarket outlet PHOTO/COURTESY

Quickmart Supermarket has been ranked among the fastest growing companies in Africa.

The retail chain was ranked the 11th fastest growing company across the continent.

The growth was largely attributed to a major expansion in the Kenyan market in the recent years.

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As a result, Quickmart revenues hit KSh 18.8 billion in 2020 up from KSh 4.7 billion in 2017.

Quick Mart was started in Nakuru by the late John Kinuthia, a businessman from the town, who died last year.

The supermarket chain, which is now being run by his family under the guidance of his son Duncan Kinuthia as its managing director, opened its first Nairobi branch in 2010 in Ruai.

The supermarket has gradual grown to have 46 branches spread out in 12 counties.

The growth of Quickmart can be attributed to its new investors, Adenia Partners, who are now the majority shareholders.

The private equity firm took control of the giant retailer in September 2019 through a transaction structured through Adenia Capital (IV) amounting KSh 28 billion.

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The acquisition saw Quick Mart merge with Tumaini Self Service Limited, also acquired by the same investors in December 2018 under the special service vehicle Sokoni Retail Kenya controlled by Adenia.

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