The founders, Ramachandran Ottapathu and Farouk Ismail, are poised to benefit from the dividend payout.
"farouk Ismail"
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Despite the plunge, Ismail continues to stand out as a top figure on the Botswana Stock Exchange.
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This surge has solidified Farouk Ismail’s standing as one of Botswana’s most affluent businessmen.
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The market value of Ismail’s shares in Choppies has taken a sharp hit, plummeting by BWP41.13 million ($2.99 million) since Aug. 16.
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Choppies has grown from a single store operating under the name “Wayside Supermarket” in Botswana in 1986 into a leading retailer with …
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Ismail, a renowned Botswana businessman, has reshaped the nation’s economy and the broader African business arena.
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Ismail owns 14.99 percent of Choppies Enterprises, or 271,691,921 shares.
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Choppies is a Botswana-based investment holding operating in the retail sector in Southern Africa.
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The multimillionaire has played an influential role in the growth and development of Botswana’s real estate sector.
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Choppies’ share price on the Botswana Stock Exchange has lost 9 percent of its value since the start of June.