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Two minutes with RAM

patriot by patriot
July 9, 2021
in Business
242 10
0
Two minutes with RAM

Choppies CEO Ramachandran Ottapathu

491
SHARES
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Choppies CEO Ramachandran Ottapathu briefly fields PATRIOT BUSINESS questions; flatly denying that the company is about to delist. He insists that their decision to pull out of underperforming markets is paying dividends as retained operations are excelling.

How has Choppies survived the Covid-19 headwinds?

RAM: We have worked even harder and come up with strategies that can help us survive the Covid-19 aftermath.

Discuss the level of profitability during the pandemic period compared to pre covid period

RAM: Covid-19 did affect our profitability.

Did you have to cut out any employees from work?

RAM: We did not.

Discuss your overall business strategy during this time

RAM: We have had to adapt to the new normal. The organisation has been met with a shift in our customers buying behaviour and therefore we have devised digital channels for shopping as well as delivery services that have gone a long way in mitigating some of the challenges. Our aim is to try not to lose market share during this time.

What is your medium to long term strategy for the business?

RAM: We look forward to a managed expansion in profitable regions.  Choppies being a one stop shop in the communities in which we operate, our shared value strategy will transform the communities in which we operate

Suspicions have emerged that you, together with Farouk Ismail as leading shareholders of the business, maybe preparing to delist the business following a spate of share purchases. What is your take on this?

RAM: There is no such thing happening. We are not preparing for a delisting.

Are you confident that the share price will start picking up soon?

RAM: One cannot predict the performance of the share price; however we do remain hopeful that will be the case.

What is the projected financial performance for this financial year?

RAM: Being a listed company we hope that we do not lose our market share.

Covid-19 pandemic broke out just as your company was emerging from a devastating internal storm of its own.  Has the company fully restored its governance system?

RAM: The Company is building and growing; the governance system is intact.

A number of key appointments were supposed to be made like deputy CEO and others. Have these been made? 

RAM: This is true, some of these posts have been filled and others the process is still on-going.

What safeguards has the company put in place to ensure that there is no repeat of the debacle

RAM: We have a solid governance system and a board that is dedicated to ensuring the overall success of the group.

Having pulled out of some markets to concentrate on high potential and lucrative ones; is this bearing desired results?

RAM: This has helped return the group to profitability, so the answer is yes.

Which of the existing markets are performing well?

RAM: They all are; Botswana, Namibia, Zambia and Zimbabwe.  

How many new stores has the company opened in the past year and which countries?

RAM: Seven stores in total, 4 in Zambia 2 in Namibia and 1 Botswana.

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  • TDR 1000 returns February 3, 2023
    The Dakar Rally, considered as one of the toughest in many years, is now something of the past and South African Rally-Raid competitors proved their talent while local race vehicle manufacturers and constructors showed their worth and returned from […]
  • Orange splashes P15.4m on FA CupFebruary 3, 2023
    NANCY RAMOKHUA editors@thepatriot.co.bw Orange Botswana through the Orange FA Cup has renewed its sponsorship with Botswana Football Association (BFA) for an additional three seasons valued at P5 138 000 00, an investment increase of 17%. The renewed collaboration will […]
  • Sefalana posts P4.9 billion revenueFebruary 2, 2023
    BAKANG TIRO editors@thepatriot.co.bw Diversified retail giant Sefalana has posted impressive set of results for the half year period ended 30 October, with the company recording P4.5 billion in total revenue. Botswana Stock Exchange (BSE) listed home grown retailer released […]
  • BSB lists P1 billion bondFebruary 2, 2023
    NANCY RAMOKHUA editors@thepatriot.co.bw Botswana Savings Bank (BSB) has listed a bond worth P1 billion with the Botswana Stock Exchange (BSE). The bond note programme will give BSB access to capital and provide alternative funding, reducing dependency on short- term […]
  • Botswana, OPEC seal P1.2 billion loan dealFebruary 2, 2023
    BAKANG TIRO editors@thepatriot.co.bw The Minister of Finance Peggy Serame is highly confident that the P1.2 billion loan that Botswana has secured from the Organisation of Petroleum Exporting Countries Fund for the International Development Fund (OPEC) will boost the country’s […]
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