Reaping the rewards of investing in Africa

 ∙   Rest of Africa moved into profitability with EBIT of P88m from last year’s P21m

∙   Choppies supports local farmers in all four countries

∙   Headwinds from Russia-Ukraine conflict remain

∙   Group Basic EPS up 105%

Against all odds, Botswana-born retail conglomerate, the Choppies Group, has performed well in what they call an unusual environment marked by rapid increases in food and fuel prices and general food insecurity in a context where most food items are imported.  As a result, the Group has actually begun to reap rewards from its investments in the African continent in which all its operations are turning to profitability. In an interview with The Business Weekly & Review, an excited Choppies CEO, Ram Ottapathu, boldly states that the most exciting highlight of the Group’s performance for the year ending June 2022 is that “all Choppies operations are now making money, and more is yet to come”. 

Impressive regional growth 

Each week, approximately 1.8 million customers visit 161 stores across four formats in four countries. Choppies employs over 9 000 people and is the largest grocery retailer in southern Africa, outside of South Africa.