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The 15 richest people on the BSE in 2023

patriot by patriot
July 7, 2023
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The Botswana Stock Exchange (BSE) has struggled to gain traction and widespread interest among Batswana, despite its role as a platform for capital raising and securities trading. Limited awareness, coupled with a preference for traditional investment options such as real estate and savings accounts, have hindered broader participation in the stock market. Additionally, the perception of the market as exclusive to the wealthy or well-connected has further deterred public engagement. Efforts to enhance financial literacy and promote inclusivity are essential in generating interest in the BSE.

However, despite its relative lack of popularity, the Botswana Stock Exchange has demonstrated resilience and steady performance. Recent years have witnessed consistent growth, reflecting the stability and expansion of Botswana’s economy. The market’s stability is reinforced by a diverse range of listed companies, including those in the mining, financial services, and consumer goods sectors. Notably, the market has recorded a 13% increase over the past year.

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Billionaires.Africa, with data from S&P Global Market Intelligence, has compiled a list of the wealthiest shareholders and stock owners on the Botswana Stock Exchange in 2023. The valuations are based on the value of their equities at the end of trading on June 26, with conversions to U.S. dollars at current exchange rates.

Here are the 15 richest individuals who currently own stocks listed on the Botswana Stock Exchange:

1.  Ottapathu 

Net worth on the BSE: $39.03 million

Holdings: Choppies, Far Property Company Limited

Choppies’ long-time CEO Ramachandran Ottapathu is the retail giant’s largest individual shareholder. His 24.65% stake in the Choppies is worth $15.3 million. He is also the top shareholder in Far Property, which owns the real estate properties on which most of Choppies’ supermarkets are seated. His 28.02% stake in Far Property is worth over $23 million.

2. Farouk Ismail

Net worth on the BSE: $37.4 million

Holdings: Choppies, Far Property Company Limited

Farouk Ismail’s father founded Wayside Supermarket, the modest family-owned business that evolved into Choppies Enterprises. The value of his 21.03-percent stake in the retailer is $12.9-million. His additional BSE holdings include a 27.99% shareholding in Far Property Company Limited worth $ 23.6 million and a 1.26% stake in Botswana Telecommunications Company.

3. Johannes“Jannie”Mouton

Net worth on the BSE: $24.5 million

Holdings: CA Sales Holding Limited

The South African entrepreneur is one of the largest shareholders in CA Sales Holding Limited, a company that distributes fast-moving consumer goods. Mouton owns 18.53 percent of the company in his name and through a family trust. The shares have a current value of $ 24.5 million. 

4. Jonathan Gibson

Net worth on the BSE: $22.5-million

Holdings: Chobe Holdings

Gibson is CEO of Chobe Holdings, which owns and operates various safari brands, including Desert & Delta Safaris and Ker & Downey Botswana. He owns 35.59 percent of the business, a stake valued at $22.5 million.

5. Giorgio Giachetti

Net worth on the BSE: $12.6-million

Holdings: RDC Properties

Giorgio Giachetti is a co-founder of RDC Properties, which owns office, industrial, retail, residential, and hotel buildings in Botswana, South Africa, Namibia, Mozambique, the United States, and Madagascar. He currently owns a 9.95% stake valued at $ 12.6 million.

6. Gulam Abdoola

Net worth on the BSE: $10.4-million

Holdings: Turnstar Holdings

Gulaam Hussain Abdoola founded Turnstar Holdings, a property investment firm in Botswana, Tanzania, and the United Arab Emirates, including shopping complexes, offices, and commercial, residential, and industrial properties. Through his wholly-owned GH Group (Pty) Ltd, he presently owns approximately 14.01% of the corporation. 

7. Chandrakant Chauhan 

Net worth on the BSE: $10.3-million

Holdings: Sefalana Holding Company Limited

Sefalana Holding Company, a retail company that operates a chain of retail supermarkets, convenience stores, cash and carry outlets, hypermarkets, and liquor stores, is led by Chandra Chauhan as its group managing director. His 5.64 percent ownership in the corporation is worth $ 10.3 million.

8. Hitesh Anadkat            

Net worth on the BSE: $4.8-million

Holdings: Letshego

The Indian-Malawian financier owns 2.9% of Letshego Holdings, worth $ 4.8 million. Letshego is a regional consumer financial services provider in sub-Saharan Africa, providing unsecured loans to government and quasi-government organizations employees using a payroll deduction business model.

9. Adams Dambe

Net worth on the BSE: $4.05-million

Holdings: Chobe Holdings 

Adams Dambe Chilisa, a Botswanan entrepreneur with investments in the hospitality industry, owns 5.7% of BSE-listed Chobe Holdings. His stake is currently worth $ 4.05 million.

10. Eira Thomas

Net worth on the BSE: $2.6-million

Holdings: Lucara Diamond Corp 

Eira Thomas, a Canadian geologist, is the CEO of Lucara Diamond Corp, a Canadian diamond mining company with a producing mine and exploration licenses in Botswana. Thomas owns 1.26% of Lucara, which has a dual listing on Botswana and the Toronto Stock Exchange.  

11. Catherine McLeod-Seltzer 

Net worth on the BSE: $ 2 million

Holdings: Lucara Diamond Corp 

Catherine McLeod-Seltzer, a Canadian mining executive, owns 0.99% of Lucara diamond corp. The stake is currently worth $ 2 million.

12. Jillian Law 

Net worth on the BSE: $1.99-million

Holdings: Chobe Holdings

Jillian Law holds a 3.14% stake in Chobe, currently worth $1,992,619.

13. Claude de Bruin

Net worth on the BSE: $1.27-million

Holdings: Minergy

Claude de Bruin served as a Non-Executive Director of Minergy before stepping down in July last year. He still owns 9.07% of Minergy, a coal mining and trading company. 

14. John Astrup

Net worth on the BSE: $1.2-million

Holdings: Minergy

John Astrup, the Managing Director of Minergy Limited, owns an 8.57% stake in Minergy, currently worth $1,201,541.

15. Anthony Gilby 

Net worth on the BSE: $1.07-million

Holdings: Tlou Energy 

Gilby is the Chief Executive Officer of Tlou Energy Limited, a company developing power solutions in Sub-Saharan Africa through gas-fired power and ancillary projects. Tlou is listed on both the Botswana and Australia Stock Exchanges. He owns a 4.9% stake in Tlou Energy worth $1.07 million. 

[billionaires.africa]

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