Sefalana opens new store in Mogoditshane

…More expected before the year-ends

Former Vice President, Ponatshego Kedikilwe has urged members of the community to take advantage of the local investment opportunities to contribute to economic development and eradicate poverty. Officially opening the 54th Sefalana Shopper store in Mogoditshane, Kedikilwe said currently economic conditions are not pleasing but people can always find a way out of financial turmoil.

He said there are lot of opportunities in Botswana that Batswana can take advantage of to relieve themselves from poverty. “I urge all Batswana, especially the youth and those on the government schemes to take advantage of opportunities. You can collaborate and buy shares in some of the big enterprises like Sefalana and earn a living. This is what entrepreneurship is all about,” said Kedikilwe.

He said Sefalana is a public company listed on Botswana Stock Exchange. Its shareholders include the Botswana Public Officers Pension Fund (42 percent), Debswana Pension Fund (7 Percent) and Motor Vehicle Accident Fund at 12 percent. “Despite tough economic conditions Sefalana is working hard to create employment and relieve Batswana out of poverty.

This company is run by devoted people who ensure that it is profitable,” said Kedikilwe. Sefalana has operations in Botswana, Namibia, South Africa and Lesotho. In its year ended April 2017, the group recorded 16 percent decline in profit to P173 million due to depressed economic conditions, which resulted in low consumer confidence.

Sefalana Group Managing Director, Chandra Chauhan said the group has attempted to diversify the businesses by introducing other products and services into the stores by focusing on the entire supply chain to extract efficiencies and through continued focus on expansion into the region. “We have taken a conservative approach to new store openings in Botswana as we did not see this year as the right time to increase our overhead base when consumer spending has fallen,” he said. The group is set to open two more shops in Botswana this year, one in Tlokweng and a Cash and Carry in Mogoditshane.