Retail behemoth, Sefalana group continues to bolster its property division by acquiring more assets in the just ended financial year. At the close of April 2016, the company has added the building which previously housed Golden Fruits to their portfolio.
In a statement signed off by Chairman Ponatshego Kedikilwe and Managing Director, Chandra Chauhan, the owners of Shoppers and Sefalana said the property is prime location for customers for a large cash and carry business. Sefalana has also purchased the property that used to be owned by Delta Dairies in Broadhurst. The company will use the area to produce milk for its customers.
The company will carry the necessary developments on the site ahead of the relocation of its juice plant from Ramotswa to Gaborone. At Kgalagadi Soap Industries, the company has constructed 4 warehouses each measuring 1000sqm. Sefalana has also bought a 40 000sqm site at Setlhoa, where early indications are that a large Shoppers stores and a petrol station will be housed.
Currently, the Botswana property portfolio is valued at P500 million. It was not all glossy for the company’s property in Zambia. Zambian government discontinued the use of US dollar and replaced it with Kwacha. This exposes the company revenue to foreign exchange risks.