Kenya grocery chain Africa Super Market, a chain that was once Kenya’s biggest grocery store, has announced it is closing its doors for good.
Africa was one of the first supermarket chains to open in Kenya, in 2001.
Afia’s mainstay was its specialty supermarket, which was widely considered the best in the country, and it also expanded to sell fresh produce.
Afias specialty store, in Nairobi, closed in February 2018.
The chain’s stores were closed during the African Union’s (AU) peacekeeping mission in Somalia.
Afiatas last few months were largely a result of its recent financial difficulties, and its chief executive, Mwamba Dlamini, said that the chain was facing “a difficult financial situation and we had to make the difficult decision to close.”
He also said that Afia had lost $100 million, but did not elaborate on what had happened to the funds.
Afica has struggled financially since the start of its business, with its total revenues falling from $1.1 billion in 2016 to $800 million in 2017.
It lost more than $600 million in 2018.
Afiam is still selling groceries, but has struggled to find customers and make a profit.
Dlaminis announcement did not offer any explanation for Afia s closure.
It is not clear what happened to all the funds it held.
Afiarely a year ago, Afia said that it would be taking out a loan from the Kenyan government to help it pay off the debts it had incurred, and to help Afia continue to operate.
It said it would seek to reopen after paying the loan, which had been set at about $3.5 billion.
The company said in its announcement that it was “not looking for any further investments.”