Africa-Press – Botswana. Choppies Enterprises Limited has announced the sale of its Zimbabwean operations to Pintail Trading (Private) Limited for US$260,000 (approximately P3.75 million).
According to an update on the Botswana Stock Exchange (BSE) website, Pintail – which is a leading supermarket retailer in southern Zimbabwe with business interests in groceries and hardware – is not a related party to Choppies.
The transaction is deemed “uncategorised” under BSE Listings Requirements because the sale value represents less than 5 percent of Choppies’ net asset value.
Strategic shift
As a result, the update is classified as a voluntary announcement.
The decision to divest aligns with the retail giant’s broader strategy to concentrate on profitable regions within its footprint.
While Choppies affirmed its belief in Zimbabwe’s long-term potential, it cited economic constraints that have rendered further investment in the country unsustainable at this point in time.
“The sale is aligned to the strategic intent of Choppies group to focus on its profitable regions,” the company stated in an update on the BSE.
Zim’s market realities
“While Choppies believes in Zimbabwe’s long-term viability, for the Zimbabwean operations to be profitable, Choppies as a group will need to invest more capital to support its Zimbabwean operations for extended periods.”
According to the company, such long-term investment would not be economically feasible, given current market realities.
Choppies confirmed that it has secured all the necessary approvals from the Competition Authority of Zimbabwe, officially closing the deal.
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