While Botswana’s amazing economy has been driven fundamentally by diamond mining, an exceptionally critical number of extremely High Net Worth Individuals in the little, landlocked southern African nation, gathered their multi-million dollar realms in ventures as different as retail, auto dealerships, retail and distribution.
Their names may not sound like they are from Botswana and you’ve most likely never heard them, however they are very rich. So who are they?
Abdul Satar Dada
77 year old Satar Dada is a well known business man in Botswana. He is the founder of Associated Investment Development Corporation (AIDC). AIDC mainly deals with motor vehicle distributorship, printing and publishing, steel manufacturing, property, agribusiness and telecommunications. He is also a major shareholder in Tswana Pride, the country’s major poultry company. Dada makes an estimate of $50 million a year.
Gulaam Husain Abdoola
Gulaam Abdoola is the founder of Turnstar Holdings which is valued at $160 million. The company incorporate over 13 commercial residential properties which include shopping centers in Gaborone, Mogoditshane, Francistown, and in Dar-es-Salaam.
Chandrakanth D. Chauhan
Chandrakanth is the CEO and major shareholder of Sefalana group a $300 million retail chain listed on the Botswana Stock exchange. Sefalana is mainly involved in retail and distribution of goods through the country and other neighboring countries in Southern Africa. Chandrakanth is said to be owing 4.5% of the company, meaning that he is valued at over $12 million.
The 52 year old Ottapathu is the CEO of Choppies; Botswana’s largest retailer. Founded in 1986 in Lobatse, Choppies has grown to be the country’s retail giant with over 170 stores in Botswana, South Africa, Zimbabwe, Zambia, Kenya, and Tanzania. Ottapathu owns a 19.5% stake in Choppies which is valued at over $60 million.
Farouk Essop Ismail
Ismail is one of the founders and Deputy Chairman of Choppies. With a 14.6% stake from Choppies and another 39.5% stake in Far Property Company Limited, Ismail pockets home over $80 million.
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