Sefalana buoyant at 50

BAKANG TIRO

editors@thepatriot.co.bw

Diversified retail giant, Sefalana is adamant that its golden jubilee celebration demonstrates its opportunity to develop further and create more of the much-needed jobs.

The Botswana Stock Exchange (BSE) listed company on Thursday launched its 50 years anniversary celebrations by unveiling new brand logo, with executives hailing it as significant for Botswana as market.

Sefalana Group Managing Director Chandra Chauhan declared that they stand at the threshold of history, celebrating not just a company, but a legacy of excellence that has shaped the retail industry in Botswana for half a century.

“Sefalana, the name synonymous with quality, reliability, and affordability, proudly stands at the pinnacle of achievement as we commemorate our Golden Jubilee. This journey began in 1974 when Sefalana sa Botswana was formed, acquiring six wholesale stores and a maize mill,” said the excited Sefalana MD.

He added: “Today, we stand tall with 124 stores across Botswana, 26 in Namibia, and four (4) in Lesotho. We are not just a retail giant; we are a diversified group with interests in manufacturing, wholesaling, fresh produce, distribution, automotives, property, and financial services.”

Chauhan said Sefalana Botswana became the first publicly listed company in 1975, a testament to its commitment to transparency and good governance, adding that the company weathered the challenges and embraced opportunities, growing from the core and expanding regionally to solidify its dominance.

“As we celebrate this remarkable milestone, we express our gratitude to the Botswana government, from Rre Seretse Khama to the current President Rre Mokgweetsi Masisi, for their unwavering support throughout our journey. Sefalana has been a constant force for positive change, contributing not only to the economy but also to the social fabric of our nation,” he added.

According to Chauhan, the company is proud to employ over 6,900 Batswana, with 99% of Sefalana Botswana workforce being citizens of this great country.

“In the face of challenges, we have not only survived but thrived. Our financial results for 2023 are a testament to our resilience and strategic acumen. The Group generated a profit before tax of P403 million, a remarkable 21% increase from the previous year,” said Chauhan.

In addition, he said they have consistently delivered better results year-on-year for their shareholders, and are proud to report another 50 years of growth, contributing to the development of Botswana, creating employment opportunities, and fostering a culture of excellence.

Sefalana Group Finance Director Mohammed Osman said Botswana has been a key market for Sefalana, adding that the country’s conducive economic setting enabled the company to take the lead in the retail space.

He said Sefalana customers and Batswana at large will be top priority as the business will take 50 years anniversary to invest back on them for showing their notable support over the years of doing business.

Announcing its financial results last week for the 26-week period ended 29 October 2023, Sefalana Group noted that Botswana business units contributed 65% to the Group Profit Before Tax (PBT), compared to 62% contribution in the 2022 similar reporting period.

“Overall Botswana business units which represent around two thirds of our entire group business, have generated P134 million of PBT for the period, compared to P120 million in the prior period. The most significant growth has been in the manufacturing sector,” Sefalana Group underscored.