Skip to content
Farouk Ismail inherited a failing general dealer in Lobatse from his father, made the pivotal decision to hand operational control to a Kerala accountant named Ram, and built a $38 million retail fortune.
Despite the plunge, Ismail continues to stand out as a top figure on the Botswana Stock Exchange.
Meet the 15 individuals who own the highest stock ownership positions on the Botswana Stock Exchange.
This surge has solidified Farouk Ismail’s standing as one of Botswana’s most affluent businessmen.
The market value of Ismail’s shares in Choppies has taken a sharp hit, plummeting by BWP41.13 million ($2.99 million) since Aug. 16.
Choppies has grown from a single store operating under the name “Wayside Supermarket” in Botswana in 1986 into a leading retailer with more than 260 stores in eight countries.
Ismail, a renowned Botswana businessman, has reshaped the nation’s economy and the broader African business arena.
Ismail owns 14.99 percent of Choppies Enterprises, or 271,691,921 shares.
Ottapathu and Farouk Ismail, who occupy key roles in the store, control a combined 44.5-percent interest in Choppies Enterprise.
The multimillionaire has played an influential role in the growth and development of Botswana’s real estate sector.
Choppies’ share price on the Botswana Stock Exchange has lost 9 percent of its value since the start of June.