{"id":30777,"date":"2023-07-16T08:24:07","date_gmt":"2023-07-16T08:24:07","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/?p=30777"},"modified":"2023-07-16T07:46:22","modified_gmt":"2023-07-16T07:46:22","slug":"choppies-widens-its-horizon-with-additional-stake-in-kamoso","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/choppies-widens-its-horizon-with-additional-stake-in-kamoso","title":{"rendered":"Choppies widens its horizon with additional stake in Kamoso"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Choppies Enterprise Limited, the dual listed company, said it will pay P 2 .00 to acquire an additional stake in Kamoso Africa Group in a move that will make it a significant player in the African region.<\/b><\/p>\n

The Botswana Stock Exchange and Johannesburg Stock Exchange listed company is aiming to acquire an additional 46 percent to move up its shareholding to 76 percent.<\/p>\n

\u201cChoppies is proposing to pay P 2.00 to acquire the subject to the target companies agreeing to Choppies taking-over their debt,\u2019 Kennedy Kgomanyane of Stockbrokers Botswana told on Thursday night.<\/p>\n

The exiting shareholders are Newshelf 1392(Pty) Ltd and by lapef 2Rmbv7- the latter is registered in Mauritius and have combined loans of P 28 million. Choppies will remain with Botswana Development Corporation that holds the balance of 24 percent.<\/p>\n

Kamoso is focused on manufacturing, packaging, supplying and distribution.<\/p>\n

\u201cKamoso is a badly ran company. It is fraud ridden,\u201d Choppies chief executive officer Ramachandran Ottapothu has said.<\/p>\n

Two years ago, Liquorama which is a division of Kamoso was defrauded P25 million by its two employees and disappeared into thin air.<\/p>\n

Choppies said it can see a silver lining on Kamoso business model- especially on the building material business ( Builders Mart ) as the is a pent -up demand for building materials in countries that it operates in.<\/p>\n

\u201cThere is rapid urbanization resulting in demand of housing and infrastructure increasing exponentially within Africa. African also has an expanding middle class. A significant majority o Africans in the middle class hold salaried jobs or own a small business,\u201d the company said.<\/p>\n

It added\u201d many of them have access to mortgage loans and are building their own properties and homes.\u201d<\/p>\n

It said it will be expanding Builders Mart to the African countries that it operates in. It\u2019s operations are sprawled across the southern African region; Botswana, Namibia, Kenya, Mozambique and Zambia.<\/p>\n

The other division that enticed Choppies to bid for additional shareholding is Liquorama which has 68 outlets in Botswana alone.<\/p>\n

Post acquisition it will have six segments of reporting- being Botswana, Namibia, Zambia , Zimbabwe, Kamoso Group and Liquorama.<\/p>\n

Recently, Choppies successfully raised P 300 million through rights offer.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Choppies Enterprise Limited, the dual listed company, said it will pay P 2 .00 to acquire an additional stake in Kamoso Africa Group in a move that will make it a significant player in the African region. The Botswana Stock Exchange and Johannesburg Stock Exchange listed company is aiming to acquire an […]<\/p>\n","protected":false},"author":84,"featured_media":30776,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[233,237,234],"class_list":["post-30777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nChoppies widens its horizon with additional stake in Kamoso - Botswana<\/title>\n<meta name=\"description\" content=\"Choppies Enterprise Limited, the dual listed company, said it will pay P 2 .00 to acquire an additional stake in Kamo ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/choppies-widens-its-horizon-with-additional-stake-in-kamoso\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Choppies widens its horizon with additional stake in Kamoso\" \/>\n<meta property=\"og:description\" content=\"Choppies Enterprise Limited, the dual listed company, said it will pay P 2 .00 to acquire an additional stake in Kamo ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/choppies-widens-its-horizon-with-additional-stake-in-kamoso\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-16T08:24:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/07\/sm_1689477251.624595.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1620\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/choppies-widens-its-horizon-with-additional-stake-in-kamoso#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/choppies-widens-its-horizon-with-additional-stake-in-kamoso\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Choppies widens its horizon with additional stake in Kamoso\",\"datePublished\":\"2023-07-16T08:24:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/choppies-widens-its-horizon-with-additional-stake-in-kamoso\"},\"wordCount\":371,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/choppies-widens-its-horizon-with-additional-stake-in-kamoso#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/07\/sm_1689477251.624595.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/choppies-widens-its-horizon-with-additional-stake-in-kamoso#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/choppies-widens-its-horizon-with-additional-stake-in-kamoso\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/choppies-widens-its-horizon-with-additional-stake-in-kamoso\",\"name\":\"Choppies widens its horizon with additional stake in Kamoso - 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