Private equity firm Amethis – alongside its partners DEG, MCB Equity Fund and IFC – has acquired a minority equity stake in Naivas Group.

Naivas is the leading retailer in Kenya with 60 stores throughout the country.

Established in 1990 by the Mukuha family, Naivas started as a small family business in the village of Rongai, located on the outskirts of Nakuru town in rural western Kenya. From 2001, the company expanded to Nairobi where it opened its first branch on R...