Farouk Ismail, a renowned Botswana businessman, has reshaped the nation’s economy and the broader African business arena. As co-founder and deputy chairman of various enterprises, he is a strategic leader who has left a mark in the real estate and retail industries.
Ismail’s legacy is intertwined with Botswana’s real estate and the once-fragmented retail sector, now transformed under his guidance. By co-founding Choppies Enterprises and Far Property Co. Ltd., as well as Far Properties (Pty) Ltd., he’s not just financially successful but transformative.
Choppies Enterprises, founded with Ramachandran Ottapathu in 1986, has risen to dominate Botswana’s supermarket scene with over 260 stores across eight African nations. This achievement showcases Ismail’s strategic acumen in a competitive landscape dominated by giants like Shoprite and Spar.
Beyond Choppies, Ismail’s impact extends to the thriving Far Property Company. The firm boasts a diverse portfolio covering retail, commercial, industrial, and residential properties across Botswana, South Africa, and Zambia.
As deputy chairman of Choppies Enterprises, Ismail’s vision has solidified the company’s position as a retail cornerstone, marked by an expansive distribution network spanning South Africa, Zimbabwe, Zambia, and Kenya.
Billionaires.Africa has identified and cataloged various companies and holdings linked to Farouk Ismail. Here are five companies where he holds direct or indirect ownership:
Established in 1986 by Ismail and Ottapathu, Choppies Enterprises stands as Botswana’s largest supermarket chain and a heavyweight in African retail. With a vast distribution network spanning South Africa, Zimbabwe, Zambia, and Kenya, Choppies brings customers a diverse array of globally acclaimed food brands and in-house private-label products. As one of Botswana’s wealthiest individuals, Ismail serves as the Deputy Chairman of Choppies Enterprises and commands a 14.99-percent stake in this retail powerhouse.
Founded in 2010 and headquartered in Gaborone, The Far Property Company specializes in strategic real estate ownership and management. Boasting a robust portfolio of around 206 properties, these holdings extend across Botswana, South Africa, and Zambia. Among these notable assets are warehouses and shopping centers housing Choppies outlets. Ismail holds the distinction of being the largest shareholder in The Far Property Company, with a substantial 29.01 percent stake, solidifying his position in the property investment sector.
Headquartered in Gaborone, BTC is Botswana’s telecommunications and internet service provider. Ismail’s ownership of a beneficial 1.26-percent stake in BTC underscores his influential role in the country’s telecom landscape. Formerly a government entity, BTC has transformed into a publicly listed entity known as Botswana Telecommunications Limited (BTCL) on the Botswana Stock Exchange.
- Fasaay Investments Limited
Fasaay Investments, Ismail’s private investment venture, is a vital nexus in his business empire. With strong ties to Choppies and The Far Property Company, Fasaay Investments plays an essential role within Ismail’s strategic web. It is also the proprietor of Ascending Returns Proprietary Limited, encapsulating Ismail’s diversified approach to investment.
- Keriotic Investments
Positioned in South Africa, Keriotic Investments, co-associated with Ismail and Ottapathu, embodies their collaborative retail and real estate endeavors. Through strategic investments, this private investment firm serves as a testament to Ismail’s regional influence and his commitment to fostering economic growth beyond Botswana’s borders.
