International › APA

Botswana supermarket to expand footprints across Africa

Botswana-based supermarket Choppies Enterprises plans to spend $57 million to open more stores in Africa in the next 15 months.Speaking on Friday, Choppies Chief Executive Ramachandran Ottapathu said although profit after tax narrowed to $5.5 million, his firm would expand into the seven countries where it already has a presence.

Choppies, a no-frills retailer which has 202 stores in towns often too small to attract larger competitors such as South Africa’s Shoprite, reported a 47 percent drop in half-year profit for the six months to end-December.

The CEO said the capital expenditure in Botswana, South Africa, Zimbabwe, Zambia, Kenya, Tanzania and Mozambique will be funded mostly from internal cash flows.

The company plans to spend $12 million up to June this year and a further 450 million pula in the full-year until June 2018.

Ottapathu said Choppies, which makes around half of its sales in Botswana, plans to open 36 new stores in 2017.


Tips
Published on 28.04.2020

How to observe the holy month of Ramadan

Ramadan commemorates the first revelation of the Quran to Muhammad according to Islamic belief. This annual observance is regarded as one of the Five Pillars…

More
Subscribe

Subscribe to Journal du Cameroun newsletter and receive all news stories free of charge

Back top