Naivas, Kenya’s largest retail chain, gets $1.03 million for 2025 protest losses

Naivas Supermarket, Kenya’s largest retail chain, has received KSh134 million ($1.03 million) from CIC Insurance Group for property damaged during the June 25, 2025 protests, underscoring the rising cost of unrest for retailers with nationwide footprints.

The payout, made under a Political Violence and Terrorism policy extension, covers losses largely linked to the Nyeri branch, Mountain Mall in Nairobi and the Naivasha outlet, where looting and vandalism disrupted operations. For a chain that depends on daily foot traffic and thin retail margins, such incidents can quickly weigh on earnings.

CIC pays $3 million over years

CIC has paid Naivas KSh392 million ($3.03 million) over 12 years, including KSh300 million ($2.32 million) in the past two years for protest-related claims. The insurer said it covers businesses worth KSh21 billion ($162.7 million) in Kenya. Naivas CEO Andreas von Paleske highlighted the importance of insurance in managing daily operational risks in retail.

The Managing Director and CEO of CIC Group, Patrick Nyaga, said risk management is key for businesses and households, reaffirming the insurer’s support as conditions change. GM Fred Ruoro said 2025 protests caused heavy losses, with CIC covering Naivas’ KSh134 million ($1.03 million) claim. In 2024 unrest, Naivas received KSh170 million ($1.31 million).

Naivas revenue up 21.6 percent

Founded in 1990 as a family shop in Rongai by the late Peter Mukuha Kago, Naivas has grown into Kenya’s largest supermarket chain. Backed by IBL, which has injected capital and tightened governance, the retailer has continued to refine its systems while expanding its store network.

As part of that plan, Naivas recently opened its 112th outlet in Mihango, a fast-growing Nairobi neighborhood. The new branch extends the company’s reach in the capital and reflects a steady approach to expansion across both established urban centers and emerging residential hubs.

Following a strong year, revenue rose 21.6 percent to $751.4 million and net profit climbed 43.4 percent to $16.1 million, driven by steady consumer spending and expansion into underserved areas. Despite higher costs and competition for prime sites, Naivas plans further expansion focused on long-term stability.