Stanchart sees potential in Choppies growth

Thursday, March 27, 2014

Standard Chartered Private Equity (“SCPE”), the investing arm of Standard Chartered Bank, has stated that it intends to hold its Choppies 13 percent stake, acquired early this year for at least 4years. SCPE said it would then review whether to continue investing in the retailer or not.

Head of SCPE, Africa, Peter Baird who was recently joined to the Choppies board of directors as a non-executive director, stated recently at the group financial results that Choppies is their important client with great business and they intend to hold their stake for “at least 4-6 years”. Baird said SCPE decided to invest in the retailer after seeing its potential.

Baird said Choppies is a great success story of entrepreneurship, job creation, and commitment to Africa’s economic potential.

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