Botswana's Choppies enters Zimbabwe

Botswana's largest retailer Choppies has announced plans to expand into Zimbabwe, following its entry into South Africa three years ago.

The company issued an advisory on the Botswana Stock Exchange (BSE) last week announcing that it had entered into an agreement with a third party to acquire 49 percent of the business of a supermarket chain which runs 10 retail stores in Zimbabwe.

"The total consideration for the deal would be less than five percent of Choppies Enterprises Ltd's market capitalisation," the advisory said. "The settlement of the consideration would be done over a period of time as the takeover of the stores progresses."

Choppies has 63 stores in Botswana and 13 outlets in South Africa.

Image: © Choppies/Facebook

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