Despite posting millions of dollars in losses at the end of its fiscal year in 2021, the shares of Gaborone-based tourism company Chobe Holdings have returned impressive gains for investors.
One of these fortunate individuals is Botswana-based businessman Jonathan Gibson, who owns a significant stake in the company.
According to research conducted by Billionaires.Africa, Gibson, Chobe’s deputy chairman and CEO, has seen the market value of his stake in the Gaborone-based firm increase by BWP12.73 million ($1.01 million) due to the sustained increase in Chobe’s stock price since the start of the year,
Chobe, a leader in Botswana’s hospitality industry, operates 12 ecotourism lodges and camps on leased land in northern Botswana and the Caprivi Strip in Namibia through its leading brands and subsidiaries.
The Botswana-based group, led by Gibson, a leading businessman who owns 35.6 percent of the company, also owns Safari Air, a wholly-owned air charter operator that provides air transport services to the group’s camps and lodges, as well as North West Air Proprietary Limited.
Chobe shares on the Botswana Stock Exchange have risen by more than 5.4 percent since the beginning of the year, from BWP7.3 ($0.545) to BWP7.7 ($0.575) at the time of writing.
The market value of Gibson’s stake in Chobe Holdings has increased by BWP12.73 million ($1.01 million) as a result of recent price gains, from BWP232.36 million ($17.36 million) at the start of the year to BWP245.1 million ($18.37 million) on Oct. 25.
The recent increase in the market value of Gibson’s stake comes after Chobe Holdings reported a loss of BWP42.45 million ($3.36 million) at the end of its fiscal year 2021, as core hospitality operations failed to recover to pre-pandemic levels last year.
According to the group’s 2021 financial report, its losses at the end of the fiscal year decreased marginally from BWP67.9 billion ($5.3 million) in 2020 to BWP42.45 million ($3.36 million), owing to a triple-digit percent increase in revenue.