Choppies Enterprises Limited is charting an ambitious course to position itself as the bellwether of a digital transformation in Botswana’s changing retail landscape.
At the heart of this strategic shift is Ramachandran Ottapathu, the CEO of Choppies, who is placing significant trust in his Deputy CEO, Vinod Madhavan, to spearhead the company’s digital transformation efforts.
Vinod Madhavan was appointed as Deputy CEO in December 2022. Armed with a robust educational background featuring a B.Tech in Computer Science and an MBA in Strategy and Finance, Madhavan brings a wealth of experience and expertise to the role. His impressive career spans high-profile stints at Deutsche Bank, Citi Bank, and Standard Bank, where he served as the Group Head of Trade.
His diverse roles in operations, product management, sales, and as a business head have taken him across the globe, with work experiences in Singapore, India, and South Africa.
During a recent interview, Ram emphasised the critical role technology will play in Choppies‘ future.
“Technology is going to change a lot of things, how we do business in the next five years,” he stated.
“It will also depend on how we get the data cheaper in the country. As it gets cheaper, people will start using technology, and it will bring down the cost of doing business.”
This strategic focus on technology is more than just a vision as Ram emphasised that Madhavan, with his strong technological background, is ideally suited to spearhead this transformation. “Our Deputy CEO’s primary qualification is in technology. He will be the one who will be taking over in the next few years. So you can see, we are already on that path,” he noted.
One of the significant initiatives under Madhavan’s leadership is the development of a blockchain-based farmers’ app that allows farmers to post and offer their products through blockchain technology, ensuring transparency and efficiency in transactions. “We have developed a farmers’ app where a farmer can post his product, offer his product through the blockchain, and we can see as a buyer what we are buying. If a financier wants to fund the project as well, they can come in and see the transactions involved. The transactions are both monitored and encrypted end-to-end, keeping everybody in business in a transparent way,” Ram explained.
Navigating economic pressures that come in patterns is another challenge that Choppies is well-prepared to handle. Ram emphasised the importance of adapting to these fluctuations, stating, “These economic pressures come in cycles. This is a part of everyday life and management for Choppies or any other retailer.”
He stressed that in the face of fluctuating inflation rates, Choppies has observed significant changes in consumer shopping habits. “Consumers are under pressure in terms of spending capacity. The spending power has been cut significantly. When the economy goes through difficult times, we adjust and try to improvise. We bring stock from outside, from Southern Africa, wherever it is a little bit cheaper, where the government’s fluctuations are in our favour,” he remarked.
Despite these challenges, Ram asserted that delivering shareholder value is a top priority for Choppies. The company understands that its long-term success depends on its ability to generate sustainable growth and profitability as the enterprising CEO counts on the strategic plan they have in place for the next five years.
When asked about the impact of the central bank’s policy rate stratagem, Ramachandran expressed confidence in Choppies‘ debt reduction strategy, highlighting the company’s strong financial management. He noted that while policy rate cuts won’t significantly impact Choppies‘ operations, they are welcomed as they are expected to spur investment and drive broader economic growth, which will ultimately benefit the company and the economy at large.
Looking ahead, Ram has outlined Choppies’ strategic focus on consolidating its position within its current four markets, an approach which reflects a deliberate effort to leverage existing market strengths and maximise competitive advantages, driving sustainable growth through a concentrated investment strategy. By honing in on markets where it already has a robust presence, Choppies aims to enhance its operational efficiencies and solidify its market leadership.
Under the visionary guidance of Ramachandran and the technological expertise of Deputy CEO Vinod Madhavan, Choppies is strategically positioning itself for a future marked by digital innovation and growth. This focus on digital transformation is not merely a speculative endeavour but a calculated strategy designed to ensure Choppies remains resilient in an evolving market landscape. With a commitment to innovation, prudent financial management, and adaptation to economic cycles, Choppies is looking to navigate forthcoming challenges and opportunities effectively, delivering substantial value to its customers, shareholders, and stakeholders.
