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Botswana's Sefalana says two food manufacturing projects, a dairy and a cooking-oil plant, collapsed for lack of government support, its managing director said.
Chandra Chauhan arrived at a struggling Botswana retailer worth $4.87 million in 2002 and built it into an $800 million southern African retail powerhouse spanning four countries.
Sales climbed to 5.82 billion pula, but profit fell, as Chandra Chauhan’s Sefalana keeps building its retail footprint across southern Africa.
Chandra Chauhan’s Sefalana flags a profit dip, blaming a softer economy, food inflation and rising living costs nationwide across Botswana.
Chandra Chauhan’s Sefalana Group posts record $800 million revenue, driven by growth in retail and manufacturing across southern Africa.
Chauhan owns a 5.53-percent equity stake in the company.