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The Botswana Stock Exchange in Gaborone is a tight roster of local bellwethers, property names, consumer stocks and a few dual-listed foreign counters. In a market this concentrated, ownership stakes carry unusual weight, and that’s where much of the country’s listed-equity wealth sits: with founders, early backers and long-serving executives whose fortunes track the share register.
Trading conditions improved through 2025. In its market performance report covering Jan. 1 to Nov. 30, the BSE said the Domestic Company Index rose 6.5%, while the Domestic Company Total Return Index gained 12.7%. The Foreign Company Index advanced 15.6% over the same period. The exchange also reported firmer trading momentum, pointing to a year-on-year jump in average daily equity turnover and higher total turnover versus 2024 for the comparable period.
The ranking that follows ties those market moves to the people most exposed to them. It uses BSE closing prices from the Daily Market Report dated Jan. 30, 2026, and converts portfolio values into US dollars at 13.19 Botswana pula to $1.
Meet the richest investors on the Botswana Stock Exchange in early 2026:
1) Ramachandran Ottapathu
Portfolio value: $92.09 million
Holdings: 28.96% stake in Choppies; 29.9% stake in Far Property Company
Choppies’ long-time CEO Ramachandran Ottapathu is the retail giant’s largest individual shareholder. He is also the largest shareholder in Far Property, which owns the real estate properties on which most of Choppies’ supermarkets are seated.
2) Farouk Ismail
Portfolio value: $63.57 million
Holdings: 17.18% stake in Choppies; 28.9% in Far Property Company; 1.28% in Botswana Telecommunications Corporation
Ismail’s listed wealth is built around the same axis: Choppies and Far Property. His father founded Wayside Supermarket, the modest family-owned business that evolved into Choppies Enterprises. His BTCL position is much smaller, but it adds diversification and keeps him plugged into a different cash flow story altogether.
3) Tobias Mynhardt, via Cash Bazaar Holdings Pty Ltd
Portfolio value: $29.56 million
Holdings: 15.93% stake in New African Properties
Through his privately-owned company, Csh Bazaar Holdings Pty Ltd, Mynhardt is the largest shareholder in New African Properties, a Botswana Stock Exchange listed variable-rate loan stock company that owns and manages an income-producing portfolio dominated by retail real estate in Botswana, with a smaller slice of retail assets in Namibia.
4) Anthony Geldard
Portfolio value: $17.19 million
Holdings: 3.34% stake in CA Sales
CA Sales has become one of the market’s modern consumer names, and Geldard’s stake is big enough to matter. It is not a control position, but it is substantial, and it ties his net worth directly to the performance of a consumer distribution platform.
5) Chandrakanth Chauhan
Portfolio value: $17.15 million
Holdings: 5.63% stake in Sefalana
Chauhan is the CEO of Sefalana Holding Company, a retail company that operates a chain of retail supermarkets, convenience stores, cash and carry outlets, hypermarkets, and liquor stores.
6) Giorgio Giachetti
Portfolio value: $14.59 million
Holdings: 9.9% stake in RDC Properties
Giachetti’s is the largest shareholder in RDC Properties Ltd, a listed real estate investment, management and development group with a diversified portfolio spanning asset types such as retail centers, offices, industrial property and other commercial real estate. It also has an international footprint beyond Botswana through investments and developments in multiple countries.
7) Ian Campbell, via ILC Investments Pty Ltd
Portfolio value: $13.54 million
Holdings: 27.5% stake in Tlou Energy
Tlou Energy sits in a higher volatility corner of the board, but Campbell’s holding is a large one, and it places him among the exchange’s most exposed investors to energy development outcomes. Tlou Energy is a gas-to-power developer focused on Botswana. The company is developing coal-bed methane gas resources and using that gas to generate electricity, with its flagship project at Lesedi in Botswana’s Central District. Tlou says it is working toward an initial 10-megawatt gas-fired power project, with plans to scale up over time, supplying power to the grid and other on-site users.
8) Gulam Abdoola
Portfolio value: $10.61 million
Holdings: 11.87% stake in Turnstar Holdings
Gulaam Abdoola is one of the richest men in Botswana and the founder of Turnstar Holdings. Its business is owning, managing and selectively developing income-producing real estate, earning returns mainly from rental income and property valuations
9) Jonathan M Gibson
Portfolio value: $8.09 million
Holdings: 6.45% stake in Chobe Holdings
Gibson is the largest individual shareholder in Chobe Holdings, a tourism company.
10) A.C Dambe
Portfolio value: $4.01 million
Holdings: 3.19% of Chobe Holdings
Dambe is another sizeable Chobe investor.
11) G H Haniger
Portfolio value: $3.94 million
Holdings: 3.175% of Chobe Holdings
Haniger’s stake is almost the same size as other top Chobe holders in this list. It is a large disclosed position by any local standard.
12) Jillian Ann Law
Portfolio value: $3.94 million
Holdings: 3.175% of Chobe Holdings
Law holds an identical Chobe block to Haniger.
13) Duncan Lewis
Portfolio value: $3.30 million
Holding: 0.6403% stake in CA&S Group
Lewis is the CEO and largest individual shareholder of CA&S Group, an FMCG “route-to-market” services company.
14) Frans Britz
Portfolio value: $1.32 million
Holdings: 0.2555 % stake in CA&S Group
Britz’s CA Sales holding is smaller than the big blocks above, but still material, and worth more than a million dollars at the valuation date.
15) Claude de Bruin
Portfolio value: $1.29 million
Holdings: 9.07% stake in Minergy
Claude de Bruin is a director at Minergy, a coal mining and trading company listed in Botswana. Its core asset is the Masama Coal Mine on the southwestern edge of the Mmamabula Coalfield in southern Botswana, which it is developing and operating to supply coal to industrial customers and power utilities in the region.
16) John Astrup
Portfolio value: $1.22 million
Holdings: 8.57% of Minergy
Astrup is another major Minergy block holder.
17) Nicholas West Eric
Portfolio value: $780,000
Holdings: 0.67% of Botswana Telecommunications Corporation
A mid sized BTCL holding can still translate into real money. This is a listed position that leans more defensive than most, anchored to a telecom incumbent.
18) Simon Susman
Portfolio value: $590,000
Holdings: 0.4059% of RDC Properties
Susman’s RDC holding is smaller than the headline blocks, but it still represents meaningful exposure to Botswana’s listed property sector.
19) Ditiro Clement Lentswe
Portfolio value: $0.56 million
Holdings: 0.48% stake in Botswana Telecommunications Corporation
Lentswe is another BTCL shareholder with a stake worth more than half a million dollars at the close used.
20) Catherine Lesetedi Letegele
Portfolio value: $0.55 million
Holdings: 0.11% stake in Botswana Insurance Holdings
Letegele, who serves as CEO of Botswana Insurance Holdings, owns a 0.11% stake in the company.
