Struggling retailer Uchumi Supermarkets PLC has appointed former Faulu Kenya Managing Director John Mwara as its new Board Chairperson, replacing John Karani Ndiwa after nearly eight years in the role.
The appointment was approved during the company’s 38th Annual General Meeting, marking Uchumi’s first shareholder gathering since 2018. During the meeting, shareholders also adopted eight years’ worth of financial statements in a single session, underscoring the retailer’s prolonged governance challenges.
Mwara, who joined the Uchumi board in August 2023, brings extensive experience in finance and microfinance banking. During his tenure as Managing Director of Faulu Kenya between 2010 and 2014, the institution recorded significant growth, with its loan portfolio, deposits and profitability rising sharply. He holds an MBA in Entrepreneurship from Moi University and currently leads Habitech Consultants.
His predecessor, Karani, assumed the acting chairmanship in October 2018 following the retirement of Catherine Ngahu. A seasoned supply chain executive, Karani steered the retailer through some of its most difficult years, including a court-supervised Company Voluntary Arrangement approved by creditors in 2020, the long-running KDF land dispute, and the redevelopment of the company’s Langata property.
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Mwara takes charge at a time when Uchumi is showing signs of operational recovery, although its financial position remains fragile. Revenue for the 2025 financial year rose by 89% to KSh123 million, largely driven by rental income from the former Langata branch, which was converted into a shopping mall anchored by China Square Kenya. The retailer posted a net profit of KSh8.7 million, reversing a loss of KSh167.8 million recorded a year earlier.
Despite the improved performance, Uchumi’s balance sheet remains heavily strained. The company reported liabilities of KSh10.13 billion against assets worth KSh3.08 billion, leaving it with negative equity of KSh7.05 billion.
A key factor in the retailer’s future remains an ongoing Court of Appeal case involving the Kenya Defence Forces over a 17-acre parcel of land in Kasarani valued at KSh2.8 billion. The outcome of the dispute is considered critical to the implementation of Uchumi’s debt recovery plan and could ultimately determine whether the retailer survives or faces liquidation.
