Sunday , 24 September 2017

Home » East Africa » Botswana-retailer seal first deals for Kenyan operations
bots

Botswana-retailer seal first deals for Kenyan operations

by: Category: East Africa, Energy, Featured, In Focus, Profile, Real Estate and Property, Retail A+ / A-

Botswana retailer, Choppies supermarket has secured its first deals with unspecified high-end malls in Nairobi and other towns, marking a major stride for the retail brand that is keen to begin operations before year end.

 
The chain’s regional director Vijay Kumar confirmed yesterday in statement that the retailer has already signed deals with four high-end malls and upcoming ones in Nairobi, two in the outskirts of the city and one each in Narok, Nakuru and Eldoret.
 
Choppies command 30 per cent of the retail market in Botswana and also has presence in South Africa, Zimbabwe and West Africa, targets A-rated clients presently charmed by Nakumatt and Carrefour supermarkets.
 
The chain had last month tipped Kumar, former Group Finance Director at Nakumatt Holdings to head its regional operations in Kenya, Uganda, Tanzania and Rwanda.
 
“We expect to open our first store mall before end of the year. Our experience as a multi-national retail chain will help us offer customers the best value for money, convenience and household items ranging from groceries to electronics,” said Kumar.
 
The company has announced plans to set up 40 stores by 2020 with a projection to grow its stores at a compound annual growth rate (CAGR) of 6.4 in the next five years. CAGR is the mean annual growth rate of an investment over a specified period of time longer than one year.
 
The announcement comes in the wake of growing interests from global retain chains keen to set up locally, buoyed by increasing top-notch malls.
 
Choppies enjoys dual listing at the Botswana Stock Exchange and South Africa’s Johannesburg Securities Exchange.
In the recent past, it has ventured into different formats of stores in several countries including hypermarkets, supermarkets and convenience stores to increase the footfalls, basket values and profitability.

1,251 total views, 2 views today

Comments
Related Posts Plugin for WordPress, Blogger...
Botswana-retailer seal first deals for Kenyan operations Reviewed by on . Botswana retailer, Choppies supermarket has secured its first deals with unspecified high-end malls in Nairobi and other towns, marking a major stride for the r Botswana retailer, Choppies supermarket has secured its first deals with unspecified high-end malls in Nairobi and other towns, marking a major stride for the r Rating: 0

About Admin

Business Journalist since 2009, has worked for Financial Post, Standard Media Group, Business Journal and People Daily Chief Editor at The African Business Fortune Magazine Hobbies: Singing, Interacting and Reading Comics
scroll to top

Subscribe to our latest updates

Signup for our newsletter and get notified when we publish new articles for free!




Social Media Auto Publish Powered By : XYZScripts.com
Read previous post:
diaspora-kenyans
Kenyan diaspora sent USD161m in 2016

Latest data by WorldRemit released this week has shown that the Kenyan diaspora is the biggest sender of digital remittances...

Close