news-details

Nyama Mama: Restaurant's rise, legal battles and uncertain future

Nyama Mama, the popular local restaurant chain. [Elvis Ogina, Standard]

The story of Nyama Mama, the popular local restaurant chain, is one marked by rapid growth, high-octane legal drama and now, an uncertain future.

Over the last three years, the restaurant chain, owned by The Good Earth Group (TGEG), faced a series of challenges that left it reeling, from the impact of the Covid-19 pandemic to a legal dispute.

The dispute over allegations that the directors took a Sh520 million loan using fictitious documents as collateral spooked investors, who may have saved it from the throes of Covid-19 and even offered a firm footing as it sought to expand to the region.

The future of Nyama Mama, which appeared bright at some point, is now in doubt.

Related Posts
Advertisements
Market Overview
Top US Stocks
Cryptocurrency Market