Key Point
- BSE’s market capitalization has risen to BWP709.5 billion ($52.27 billion), reflecting a 5.1% increase year-to-date.
- The BSE’s recovery has significantly boosted fortunes of Botswana businessmen with stakes in listed companies.
- The top ten richest BSE investors’ holdings increased to $192.4 million from $173.81 million in November 2023, with Ramachandran Ottapathu leading.
Companies listed on the Botswana Stock Exchange (BSE) have seen a notable increase in value, recovering from a decline between Aug. 2017 and Mar. 2021. The BSE remains strong in 2024, significantly boosting the fortunes of many Botswana businessmen with stakes in listed companies.
Widely recognized as one of Africa’s top-performing stock exchanges, the BSE has averaged a 24% aggregate return over the past decade. Year-to-date, the market capitalization of all issued shares has risen 5.1%, reaching BWP709.5 billion ($52.27 billion).
The market value of the top ten richest investors’ holdings on the BSE has surged to nearly $200 million ($192.4 million) from $173.81 million on Nov. 10, 2023. Ramachandran Ottapathu, CEO of Choppies, remains the richest investor, followed by Jonathan Gibson of Chobe Holdings, who has surpassed Farouk Ismail, now in third place. The combined holdings of these three investors total $104.53 million, highlighting their growing influence on the BSE.
While diamond trading and mining continue to drive Botswana’s economic growth, the government is pursuing economic diversification. Finance Minister Peggy Serame outlined eight priorities for non-mining industries in the second Transitional National Development Plan, focusing on youth employment, fiscal sustainability, economic diversification, and enhanced livelihoods.
Emphasis on inclusive growth across sectors has supported sustainable economic growth, benefiting company performance and boosting valuations on the BSE. The IMF projects Botswana’s economic growth to slow to 1% in 2024 due to a diamond market contraction. However, the government is optimistic that growth in both mineral and non-mineral sectors will enhance prosperity and business growth, citing the decade-long value creation on the BSE.
Billionaires.Africa, using data from the stock market, S&P Global Market Intelligence, annual reports, has compiled a list of the richest investors on the BSE. This group of investors, with holdings of nearly $200 million, illustrates the BSE’s dynamic ecosystem. Below are the 10 individuals with the highest stock ownership on the BSE as of July 24, 2024.
1. Ramachandran Ottapathu
Holdings: Choppies, Far Property Company Limited
Market value of holdings on the BSE: $39.1 million
With over 34 years of experience in finance and operations across various sectors including manufacturing, packaging, milling, real estate developments, and medical distribution, Ramachandran Ottapathu stands as one of Botswana’s wealthiest individuals. As the long-standing CEO of Choppies, he holds a commanding 28.96% stake in the leading retailer, valued at $20.24 million. Additionally, Ottapathu’s significant 29.95% stake in Far Property Company Limited is valued at over $18.81 million, cementing his status as a key player in Botswana’s retail and real estate markets.
2. Jonathan Gibson
Holdings: Chobe Holdings
Market value of holdings on the BSE: $35.27 million
Jonathan Gibson is a pivotal figure in Botswana’s hospitality sector as the force behind Chobe Holdings. His 32.36% stake in the company, valued at $35.27 million, underpins his status among the country’s wealthiest. Chobe Holdings, known for its eco-tourism lodges and camps under brands such as Desert & Delta Safaris, Chobe Game Lodge, and Ker & Downey Botswana, operates 14 establishments with a combined capacity of 333 beds in northern Botswana and the Zambezi Region of Namibia.
3. Farouk Ismail
Holdings: Choppies, Far Property Company and Botswana Telecommunications
Market value of holdings on the BSE: $30.2 million
Farouk Ismail’s wealth is deeply rooted in the evolution of Wayside Supermarket, founded by his father, into Choppies Enterprises. His 17.18% stake in Choppies is valued at $12 million. Additionally, he holds a 28.96% share in Far Property Company Limited, worth $18.2 million, and a 1.26% stake in Botswana Telecommunications Company, valued at approximately $1 million, marking him as a significant investor in diverse sectors.
4. Johannes “Jannie” Mouton
Holdings: CA&S Group
Market value of holdings on the BSE: $22.26 million
South African billionaire Jannie Mouton is a major shareholder in CA&S Group, which provides route-to-market solutions for prominent consumer brands in Africa. His 9.3% stake in the group is currently valued at $22.26 million. Mouton’s investment underscores his strategic positioning in the fast-moving consumer goods (FMCG) sector across the continent.
5. Guido R. Giachetti
Holdings: RDC Properties
Market value of holdings on the BSE: $15.28 million
Guido R. Giachetti, son of RDC Properties co-founder Giorgio Giachetti, holds an 11.4% stake in the company valued at $15.28 million. A seasoned civil engineer with advanced business management qualifications from Harvard and INSEAD, Giachetti has been influential in property development and investment for 33 years. Recognized for his contributions with the Order of Merit by the King of Spain and the Knights of the Order of the Star of Italy, he was named Businessman of the Year by the Italian-South African Chamber of Commerce in 2023.
6. Giorgio Giachetti
Holdings: RDC Properties
Market value of holdings on the BSE: $13.33 million
Giorgio Giachetti, co-founder of RDC Properties, holds a 9.95% stake in the company. His portfolio, valued at $13.33 million on the Botswana Stock Exchange (BSE), reflects his significant influence in the real estate market. RDC Properties operates across Botswana, South Africa, Namibia, Mozambique, the United States, and Madagascar.
7. Chandrakant Chauhan
Holdings: Sefalana Holding Company Limited
Market value of holdings on the BSE: $12.38 million
Chandrakant Chauhan, Group Managing Director of Sefalana Holding Company Limited, holds a 5.64% stake valued at $12.38 million. With 14,134,204 ordinary shares, this Chartered Accountant, who trained with KPMG in the UK, has significantly impacted Botswana’s retail sector. Zambian by birth and now a naturalized Botswana citizen, Chauhan has been instrumental in Sefalana’s turnaround and restructuring, establishing himself as a leading entrepreneur and respected businessman.
8. Gulam Abdoola
Holdings: Turnstar Holdings
Market value of holdings on the BSE: $11.35 million
Gulam Abdoola, founder of Turnstar Holdings, has carved a niche in the property investment sector. His wholly-owned GH Group holds a 14.01% stake in Turnstar Holdings, amounting to 80,148,355 ordinary shares valued at $11.35 million. Abdoola’s investments span across Botswana, Tanzania, and the UAE, solidifying his position among the wealthiest investors on the BSE.
9. Duncan Lewis
Holdings: CA&S Group
Market value of holdings on the BSE: $7.11 million
Duncan Lewis, CEO of CA&S Group since 2013, holds a 2.97% stake valued at $7.11 million. Beginning his career in industrial marketing before joining PnS in 2003, Lewis has a profound understanding of the FMCG industry. His strategic acumen in fostering market distinction and sustainable growth has significantly enhanced shareholder value, securing his place among the top investors on the BSE.
10. Johanna Nganunu-Macharia
Holdings: Chobe Holdings
Market value of holdings on the BSE: $6.15 million
Johanna Nganunu-Macharia, a Chartered Architect registered with prestigious institutions such as ARB and RIBA in the UK, and ARC and AAB in Botswana, owns a 5.4% stake in Chobe Holdings worth $6.15 million. Beyond her investment, she runs Nganunu Macharia Design Proprietary Limited, focusing on architecture, interior design, urban design, and project management. With 25 years of experience in architecture and construction, Nganunu-Macharia has significantly contributed to Botswana’s economy and maintains a strong presence on the BSE.
