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      Botswana’s women boxing on the rise 

      Boxers Finally Receive their Prize Money from 2022 African Championships

      Darts Expects Only P50K from BNSC for 2023/24

      Darts Expects Only P50K from BNSC for 2023/24

      Botswana athletes to train in USA

      Botswana athletes to train in USA

      Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

      Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

      Boxers yet to Receive Prizes from 2022 African Boxing Championships 

      Boxers yet to Receive Prizes from 2022 African Boxing Championships 

      April will see 2nd Instalment of Summer Kids Marathon

      April will see 2nd Instalment of Summer Kids Marathon

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      Choppies plans to acquire Kamoso Africa

      Kamoso, is a private company registered in Botswana with its largest shareholder being Lapef 2 Rmbv7 Kamoso Limited at 45.17 percent, which is registered in Mauritius

      mm by Baboloki Meekwane
      February 1, 2023
      in Companies & Markets
      Reading Time: 3 mins read
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      • Will enter closed period because transaction could impact its share price if successful
      • Choppies Enterprises Limited runs 100 stores in the grocery sector countrywide

      The Competition and Consumer Authority (CCA) says it has received a merger notification for a proposed acquisition of a total of 76 percent of the issued share capital of Kamoso Africa (Pty) Ltd by Choppies Distribution Centre (CDC).

      In a merger notice published on its website, CCA says the sole shareholder, Choppies Enterprises Limited, directly controls the acquiring enterprise, Choppies Distribution Centre, that in Botswana controls Monyglob (Pty) Ltd trading as MonyGlob Bureau De Change, which is involved in the business activities of money transfer and foreign exchange.

      Further, the acquiring enterprise operates a chain of 100 stores across Botswana and is active in the grocery supermarket sector. It is associated with superstores, hyperstores and value stores, each offering the full in-store range, including bakeries, butcheries, fast food, and fresh fruit and vegetables.

      “CDC also sells private label products in just about every food and non-food category such as fresh, frozen, canned, dry foods, snacks, ethnic specialties, health and beauty care, household as well as laundry products. Additionally, CDC provides a range of financial services such as airtime, electricity, money transfer and foreign exchange,” the notice reads.

      The target enterprise, Kamoso, is a private company registered in Botswana with its largest shareholder being Lapef 2 Rmbv7 Kamoso Limited at 45.17 percent, which is registered in Mauritius. “Other shareholders of the target enterprise are Newshelf 1392 (RF) (Pty) Ltd, Botswana Development Corporation Limited (BDC), Mr Ramachandran Ottapathu and Mr Narayanan Ottappath,” says the notice.

      The company controls 10 companies, that generally operate in three major divisions of manufacturing, supplying and distribution. “The Kamoso Group’s product range consists of fast-moving consumer goods, pharmaceuticals, liquor, building materials and equipment,” the merger notice reads. “The target enterprise services most retail and healthcare industries.

      “Kamoso sources and distributes both local and international brands, from groceries to beverages and personal care throughout the region. Specifically, Kamoso’s subsidiaries are involved in medical distribution, liquor retailer, liquor wholesaler, hardware accessories retailer, distributor, rice and spice packaging, sorghum manufacturing, maize meal manufacturing, tissue manufacturing, and water bottling plant.”

      Meanwhile, in a cautionary statement issued on the Botswana Stock Exchange (BSE) website, Choppies advises all its shareholders that the company has entered into discussions regarding a possible acquisition of 100 percent of the issued shares in a Botswana-based company operating a fast-moving consumer goods business. If successfully concluded, the acquisition could have an impact on the company’s share price and consequentially Choppies says it will be entering a closed period in terms of the BSE Listings Requirements.

      The BSE requires the company to announce any circumstances or events that have or are likely to have a material effect on market activity or the price or value or trading in the company’s securities. According to Choppies, the closed period will start from the date of the announcement last until the full terms of the possible acquisition have been announced. During this time, members of the board, management and staff of Choppies are prohibited from dealing in any manner, directly or indirectly, in the securities of the company.

      “The possible acquisition, which is subject to certain conditions, including but not limited to, approval from the Competition and Consumer Authority, is aligned to the strategic intent of Choppies to expand its operations in the jurisdictions in which it currently operates,” says Choppies in the cautionary statement.  “Shareholders are cautioned that there is no certainty at this stage that the discussions will lead to a formal transaction being concluded.  Accordingly, shareholders are advised to exercise caution when trading in their Choppies shares until a further announcement is made.”

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