According to the current Botswana Forbes, the following five individuals control the economy of the country. Surprisingly, they are not Motswanas. We now unfold the list.
Abdul Satar Dada
He is currently the treasurer of Botswana Democratic Republic. He has built his political career by being a member of parliament of Botswana’s parliament. Dada is also the mind behind Associated Investment Development Corporation (AIDC) which is the main shareholder of the Tswana Pride. Besides, he is a conglomerate who has developed an interest in steel manufacturing, telecommunications, agribusiness, printing and publishing, motor dealerships and property investments. In line with the motor dealership, Satar owns the biggest Toyota dealers in Botswana known as Motor Centre Botswana. Tswana pride where AIDC primarily control shares is known for dominating the poultry market in Botswana as it ships, slaughters and sells chicken under its brand name. The Tswana pride generates revenues of over $50 annually.
Farouk Essop Ismail
The list of top 5 rich people in Botswana can’t be complete without mentioning Farouk Essop Ismail. He commands 39.5% of the shares in Far Company Limited, a real estate company operating in Botswana. From this public traded real estate company alone, his worth is $35 million. Besides, he owns 14.6% shares at Choppies, and he’s the deputy chairman and co-founder of this largest retailer in Botswana.
Gulaam Hussain Abdoola
He is the brains behind Turnstar Holdings which was established in 2002, and he owns 15.7% of the company shares. According to the latest listings by the Botswana Stock Exchange, the company covers a market gap with $160 Million making Gulaam share value to be over $25 million. Turnstar Holdings has over 13 commercial and residential buildings with other shopping malls situated in Dar-es-Salaam, Mogadishane, Gaborone, and Francistown.
Chandrakanth D Chauhan
He is the Chief Executive Officer (CEO) of Sefalana Group which is a wholesale and retail distributor of consumer goods. According to the data from retails chain, the company value is $300 million, and Chandrakanth is the largest individual shareholder in the company where he owns 4.5% making his worth valued at $12 million. Sefalana Group was the first company to be listed on Botswana Stock exchange and currently has over 50 properties within Botswana.
Choppies retailers operating in Kenya, South Africa, Zambia, Tanzania, Botswana, and Zimbabwe has over 170 stores, and Ramachandran owns 19.5% of the shares. He’s currently the CEO of the largest retailer in Botswana which was established in 1986, the Choppies. Tracing the history, it began as a single supermarket in Lobaste, Botswana and it has since expanded its operations with recent milestones achieved in South Africa and Kenya. In Kenya, the company secured three outlets from Ukwala supermarkets which has been a struggling retail chain since November 2016. Moreover, in South Africa, it acquired 21 retail outlets from Jwayelani Retail in March 2016.