Choppies lists on the JSE - CNBC Africa

Choppies lists on the JSE

IPO

by Rofhiwa Madzena 0

Choppies listed on the JSE and it is aiming to open 200 stores in Africa by the end of next year.

Choppies, a Botswana-based grocery retailer listed on the JSE’s Main Board in the Food Retailers and Wholesalers sector today. The listing is the sixth listing on the exchange this year. 

CEO, Ramachandran Ottapathu expressed his excitement about the listing, “Our proven business model, knowledge of the market and exciting economic fundamentals clearly show Choppies is ideally placed to grow its market share across Africa as shoppers turn to branded convenience in ever-growing numbers.”

In an interview on CNBC Africa, Ottapathu shared plans that the grocer will be opening its first stores in Zambia and Tanzania before the end of this year.

Choppies has been recorded as one of the fastest growing retailers on the continent. Ottapathu highlighted that the listing on the JSE will expose the company to the capital that it needs to support and intensify its presence in the Southern and East African markets.

Choppies’ primary listing is on the Botswana Stock Exchange and it is currently the top supermarket chain in that country.

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