Botswana's Choppies to buy Kenyan retailer


African retailer Choppies plans to buy 10 stores in Kenya for 10 million US dollars as it expands into a fourth market on the continent, the company said on Monday.

(READ MORE: Choppies set to expand African footprint)

Botswana-based Choppies, which operates 125 stores in its home market, South Africa and Zimbabwe, said it has entered into a conditional agreement with Kenya’s Ukwala Supermarkets to buy its assets and business name and will fund the acquisition with debt and cash.