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Choppies Enterprises Ltd. Chief Executive Officer Ramachandran Ottapathu snapped up almost 19.5 million company shares on Sept. 25, underscoring his faith in the recovery of Botswana’s biggest supermarket chain.
According to a stock‐exchange filing, Ottapathu bought the shares on the market at P0.70 apiece, spending about BWP 13.62 million (roughly US$1 million). The purchase strengthens his already significant influence over the retailer, which has a primary listing on the Botswana Stock Exchange and a secondary listing on Johannesburg’s JSE.
The disclosure also showed a smaller insider purchase by key management executive Vidya Sanooj, who acquired 11,688 shares at the same price for a total of BWP 8,182 (around US$600).
Choppies has been working to rebuild investor trust after a protracted financial reporting crisis in 2018–2019 and subsequent restructuring. The retail chain has since streamlined operations across Botswana, South Africa, Zambia and Namibia, aiming to return to consistent profitability.
Analysts said Ottapathu’s sizable buy is a positive signal for shareholders. “It’s usually reassuring when the CEO commits more of his own capital,” said a Gaborone‐based investment manager. “It tells the market management is confident about where the business is headed.”
The share purchase came as Choppies’ stock has hovered near historic lows on the Botswana bourse, still far below pre‐crisis levels. Investors will be watching the company’s next earnings report for signs that recent cost cuts and a focus on core markets are paying off.
