CHAMWE KAIRA
Choppies Enterprise Limited, the mother company of Choppies Supermarket Namibia (Pty) Ltd plans to open seven more shops in the country this year.
Currently Choppies has 18 stores and is planning to open another three stores in the next few months as fit out of these stores are already underway, the company said in response to questions by Observer Money. “For 2024 we plan to open another seven stores.”
Choppies said it is looking at expanding into the south of the country where the excitement around oil and green hydrogen is top of mind and the development which goes with that. “Our footprint in Windhoek is also small and would like to have a bigger presence here.”
Looking back at 2023, Choppies said the trading entity of the business showed a profit, while new stores still need to get to a profitable level.
“However head office cost (support cost) brings it down to a loss. In saying that we need to reach a larger footprint to absorb this and show a total operating profit.” Currently Choppies Supermarket Namibia employs 857 people.
“Success stories must include the overall winner of the horticulture trader of the year, showing our support to local farmers. With a growing business resources remain under pressure.”
The company has a small provision made in the shareholding of Choppies Supermarket Namibia (Pty) Ltd for local partnership, however the majority share is held by Choppies Enterprise Limited who is listed both on the Botswana Stock Exchange (BSE) and the Johannesburg Stock Exchange (JSE). The company said it has no plans to list on the Namibia Stock Exchange in the medium term.
Last week, the company told shareholders on the Botswana Stock Exchange and JSE that the Board has resolved to make payment of all dividends of Botswana Pula (BWP)15 and less directly to the relevant
shareholders, by way of EFTs (electronic fund transfers) to the bank accounts registered with the central securities depository (CSD).
The company said will still be holding the dividends for those shareholders whose bank details are not accessible for EFTs, including the shareholders in the omnibus CSD account.
Choppies advised shareholders that dividends unclaimed for three years after the due date for payment may become the property of the company and used for the benefit of the company. The company has a primary listing on the BSE and a secondary listing on the JSE.
