The great fall out

Ram .PIC. KENNEDY RAMOKONE
Ram .PIC. KENNEDY RAMOKONE

Choppies shareholders will soon find themselves having to choose whether they will place their confidence in their board or the suspended CEO, to drag the regional grocer out of the doldrums it is in.

Members of Choppies’ eight member board this week suspended Ramachandran Ottapathu, the multi-millionaire credited with transforming the grocer from a family “spaza” in Lobatse to a regional giant employing more than 15,000 people.

Choppies has been in crisis since last September when the Botswana Stock Exchange (BSE) halted trading of its shares and requested clarification on the reasons for a delay in results for the year ended June 30, 2018. Choppies’ subsequent clarification triggered a 76.3% share price drop on the BSE, after the group said its new auditors were reassessing historical figures related to business acquisitions, value of inventory, property and a shareholder dispute in Zimbabwe.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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