Company in Botswana

  • Botswana’s major retail group Choppies

    BOTSWANA, 2013/10/06 Botswana’s major retail group Choppies has announced plans to expand into Zimbabwe, following its entry into South Africa three years ago. Choppies issued an advisory on Thursday on the Botswana Stock Exchange (BSE) announcing that the company has entered into an agreement with a third party to acquire 49% of the business of a supermarket chain which runs 10 retail stores in Zimbabwe. “The total consideration for the transaction would be less than 5% of Choppies Enterprises Ltd’s market capitalisation,” said Choppies chief executive officer Ramachandran Ottapathu. “The settlement of the consideration would be done over a period of time as the takeover of the stores progresses.”
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