Botswana multimillionaire Ramachandran Ottapathu’s stake in Choppies Enterprises Limited, Far Property Company and Afinitas Limited is now worth BWP447.03 million ($40.93 million).
Ottapathu, who founded Far Property, a real estate development and asset management company located in Botswana, has played a key role in the growth and development of the country’s real estate sector.
He also played a formative role in the modernization of Botswana’s highly fragmented retail sector. This led to the establishment of Choppies Enterprises, a leading retail company that he co-founded with fellow Botswana multimillionaire, Farouk Ismail.
Since its founding in 1986 by Ottapathu and Ismail, Choppies has grown into the largest retailer in Botswana and one of the largest in Southern Africa.
Despite competition from industry leaders such as Shoprite and Spar, the company owns a centralized distribution network in South Africa, Zimbabwe, Zambia and Kenya.
As of press time, 12:20 PM, Aug. 6, Choppies’ market capitalization was BWP782.18 million ($71.61 million). The market value of Ottapathu’s stake was BWP152.88 million ($13.92 million).
Aside from his stake in Choppies and Far Property, the multimillionaire is one of the largest shareholders in Afinitas, a pan-African investment holding focused on developing a portfolio of Africa-focused businesses.
Ottapathu’s stake in the investment holding is now worth BWP160,000 ($14,571), while his 119,998,333 ordinary shares in Far Property are worth BWP294.00 million ($26.77 million) as of press time, 12:20 PM (UTC), Aug. 6.
The total market value of his stake in the three companies, according to data compiled by Billionaires.Africa, is BWP447.03 million ($40.93 million).