Choppies Enterprise Ltd. is shutting down its supermarkets throughout a number of African nations in a bid to focus on growth in Botswana, the place it is listed, as well as other southern African nations Zambia, Zimbabwe, and Namibia.
The Gaborone-based retailer plans to shut supermarkets in South Africa, Kenya, Tanzania and Mozambique as a result of they aren’t profitable, according to Chief Executive Officer Ramachandran Ottapathu. As a substitute, it’ll add shops in Botswana this yr and explore new markets.
The corporate will as an alternative give attention to more profitable subsidiaries with plans so as to add shops in Botswana this yr and discover new markets. “Zambia is self-sustaining and growing slowly and in Zimbabwe, we’ll look at the market and how it goes. (In) Namibia, we have to grow,” Ottapathu stated.
Gaborone-based news website Mmegionline was the first to report the retailer’s exit from four African nations on Monday.