COMPANY COMMENT: Choppies not afraid to expand African stores
Zimbabwe in particular presents difficulties for foreign companies trying to make money there
While some retailers are fleeing from foundering African economies, a few brave ones are sticking it out and expanding on the continent. Not only is Choppies Enterprises adding stores in the region, it has even dared to tackle countries that leading retailers such as Shoprite and Spar have failed to make work. These include Zimbabwe, Kenya and Tanzania.Zimbabwe in particular presents difficulties for foreign companies trying to make money there. Choppies buys its stock from SA, which is still the main purchasing base for retailers, but the Zimbabwean government has banned certain imports from the country. This means the availability of stock is a constant problem. And trying to source goods locally comes with its own set of difficulties. Despite these troubles, Choppies reported a substantial increase in interim profit from doing business north of SA’s borders and CEO Ram Ottapathu says he remains optimistic about the prospects of trade in Zimbabwe East Africa is no pushover either....
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