Despite its crucial role as a platform for capital raising and securities trading, the Botswana Stock Exchange (BSE) has faced challenges in capturing widespread interest among Batswana.
Limited awareness and a preference for traditional investment options such as real estate and savings accounts have hindered broader participation in the stock market. Furthermore, the market’s perception as exclusive to the wealthy or well-connected has further deterred public engagement.
Despite the struggles, the Botswana Stock Exchange has displayed resilience and steady performance, generating wealth for investors and businessmen who hold stakes in the companies listed on the local bourse. Over the past year, some companies on the exchange have delivered impressive financial results. Consequently, the bourse’s market capitalization has increased by 4.37 percent since the beginning of the year.
The latest figures indicate that the market capitalization of all the shares listed on the Botswana Stock Exchange (including shares of foreign companies) has climbed to an impressive BWP393.2 billion ($29.3 billion). This increase has translated into substantial gains for some domestic and foreign investors and businessmen.
Among them is Jonathan Gibson, who owns a significant stake in Chobe Holdings, and has reaped considerable benefits from his investment. However, others, like Ramachandran Ottapathu, a prominent businessman with a 24.65-percent stake in Botswana’s retail giant, Choppies, have not been as fortunate regarding returns.
Given the varying investment outcomes experienced by different individuals, it has become increasingly important to assess the impact of these changes in market value on the ranking of the richest investors on the Botswana Stock Exchange.
In response to this need, Billionaires.Africa, with data from S&P Global Market Intelligence, Africa has compiled a comprehensive list of the wealthiest shareholders and stock owners on the Botswana Stock Exchange in 2023.
The valuations are based on the value of their equities at the end of trading on June 26, with conversions to U.S. dollars at current exchange rates.
Here are the 15 richest individuals who currently own stocks listed on the Botswana Stock Exchange:
1. Ramachandran Ottapathu
Net worth on the BSE: $39.03 million
Holdings: Choppies, Far Property Company Limited
Choppies’ long-time CEO Ramachandran Ottapathu is the retail giant’s largest individual shareholder. His 24.65-percent stake in the Choppies is worth $15.3 million. He is also the top shareholder in Far Property, which owns the real estate properties on which most of Choppies’ supermarkets are seated. His 28.02-percent stake in Far Property is worth more than $23 million.
2. Farouk Ismail
Net worth on the BSE: $37.4 million
Holdings: Choppies, Far Property Company Limited
Farouk Ismail’s father founded Wayside Supermarket, the modest family-owned business that evolved into Choppies Enterprises. The value of his 21.03-percent stake in the retailer is $12.9 million. His additional BSE holdings include a 27.99-percent shareholding in Far Property Company Limited worth $23.6 million and a 1.26-percent stake in Botswana Telecommunications Company.
3. Johannes “Jannie” Mouton
Net worth on the BSE: $24.5 million
Holdings: CA Sales Holding Limited
The South African entrepreneur is one of the largest shareholders in CA Sales Holding Limited, a company that distributes fast-moving consumer goods. Mouton owns 18.53 percent of the company in his name and through a family trust. The shares have a present value of $24.5 million.
4. Jonathan Gibson
Net worth on the BSE: $22.5 million
Holdings: Chobe Holdings
Jonathan Gibson is CEO of Chobe Holdings, which owns and operates various safari brands, including Desert & Delta Safaris and Ker & Downey Botswana. He owns 35.59 percent of the business, a stake valued at $22.5 million.
5. Giorgio Giachetti
Net worth on the BSE: $12.6 million
Holdings: RDC Properties
Giorgio Giachetti is a co-founder of RDC Properties, which owns office, industrial, retail, residential, and hotel buildings in Botswana, South Africa, Namibia, Mozambique, the United States, and Madagascar. He currently owns a 9.95-percent stake valued at $12.6 million.
6. Gulam Abdoola
Net worth on the BSE: $10.4 million
Holdings: Turnstar Holdings
Gulaam Hussain Abdoola founded Turnstar Holdings, a property investment firm in Botswana, Tanzania, and the United Arab Emirates, including shopping complexes, offices, and commercial, residential, and industrial properties. Through his wholly-owned GH Group (Pty) Ltd., he presently owns approximately 14.01 percent of the corporation.
7. Chandrakant Chauhan
Net worth on the BSE: $10.3 million
Holdings: Sefalana Holding Company Limited
Sefalana Holding Company, a retail company that operates a chain of retail supermarkets, convenience stores, cash and carry outlets, hypermarkets, and liquor stores, is led by Chandra Chauhan as its group managing director. His 5.64 percent ownership in the corporation is worth $10.3 million.
8. Hitesh Anadkat
Net worth on the BSE: $4.8 million
Holdings: Letshego
The Indian-Malawian financier owns 2.9 percent of Letshego Holdings, worth $4.8 million. Letshego is a regional consumer financial services provider in sub-Saharan Africa, providing unsecured loans to government and quasi-government organizations employees using a payroll deduction business model.
9. Adams Dambe
Net worth on the BSE: $4.05 million
Holdings: Chobe Holdings
Adams Dambe Chilisa, a Botswanan entrepreneur with investments in the hospitality industry, owns 5.7 percent of BSE-listed Chobe Holdings. His stake is currently worth $4.05 million.
10. Eira Thomas
Net worth on the BSE: $2.6 million
Holdings: Lucara Diamond Corp
Eira Thomas, a Canadian geologist, is the CEO of Lucara Diamond Corp, a Canadian diamond mining company with a producing mine and exploration licenses in Botswana. Thomas owns 1.26 percent of Lucara, which has a dual listing on Botswana and the Toronto Stock Exchange.
11. Catherine McLeod-Seltzer
Net worth on the BSE: $2 million
Holdings: Lucara Diamond Corp
Catherine McLeod-Seltzer, a Canadian mining executive, owns 0.99 percent of Lucara Diamond Corp. The stake is currently worth $2 million.
12. Jillian Law
Net worth on the BSE: $1.99 million
Holdings: Chobe Holdings
Jillian Law holds a 3.14-percent stake in Chobe, currently worth $1,992,619.
13. Claude de Bruin
Net worth on the BSE: $1.27 million
Holdings: Minergy
Claude de Bruin served as a Non-Executive Director of Minergy before stepping down in July last year. He still owns 9.07p ercent of Minergy, a coal mining and trading company.
14. John Astrup
Net worth on the BSE: $1.2 million
Holdings: Minergy
John Astrup, the Managing Director of Minergy Limited, owns an 8.57-percent stake in Minergy, currently worth $1,201,541.
15. Anthony Gilby
Net worth on the BSE: $1.07 million
Holdings: Tlou Energy
Gilby is the CEO of Tlou Energy Limited, a company developing power solutions in Sub-Saharan Africa through gas-fired power and ancillary projects. Tlou is listed on both the Botswana and Australia Stock Exchanges. He owns a 4.9-percent stake in Tlou Energy worth $1.07 million.
