The Botswana retail giant Choppies it’s set to pull out of its key markets South Africa and Kenya as its regional largest retailing shop initiative collapses The Business Daily reports.
Choppies which is headquartered in Botswana has been having a difficult year which includes leadership wrangles, accounting irregularities and stock issues which resulted on their counter being temporarily suspended from both the Botswana Stock Exchange and the JSE.
According to an independent analyst Syd Vianello:
They went into a number of markets, one after the other. I think they moved into new markets without properly developing their infrastructure, lines of communication and management.
Choppies was founded in 1986 and now has 200 retail shops in Zimbabwe, Botswana, South Africa, Kenya, Tanzania Zambia and Mozambique.
More: The Chronicle