Have you ever wondered who are the wealthiest people in Botswana and their net worth? Top Most 10 outlines the wealthiest people in Botswana and their net worth. This was made possible by diving deep into the finances and pockets of the business gurus and tycoons in Botswana to unveil their net worth.
Botswana is a landlocked country in Southern Africa.
The Kalahari Desert, a large semi-arid savannah, covers 70% of Botswana. It is, therefore, no surprise that water is such a valued commodity. In fact, Botswana’s currency is called the Pula which translates to rain in Setswana. Formerly one of the world’s poorest countries—with a GDP per capita of about US$70 per year in the late 1960s—it has since transformed itself into an upper-middle-income country, with one of the world’s fastest-growing economies. The economy is dominated by mining, cattle, and tourism. Botswana has a GDP (purchasing power parity) per capita of about $18,113 as of 2021, one of the highest in Africa.
Having enjoyed sub-Saharan Africa’s fastest economic growth for much of the last century, this landlocked country has positioned itself to be an important hub for manufacturing and commerce by leveraging its position as a gateway to the Southern Africa market.
Botswana has been named by Times as one of the fastest-growing economies in the world. The country in the last decade has witnessed astronomical advancement in industrialization, and the growth of their development.
Despite being the world’s third largest diamond producer, its wealthiest individuals made their fortunes through investments in diverse industries outside the mining sector, and they represent some of the biggest homegrown entities on the Botswana Stock Exchange (BSE).
Here are the top five wealthiest people in Botswana and their net worth
#5 Gulaam Abdoola
Gulaam Abdoola is the founder and managing director of Turnstar Holdings Ltd, a diversified property loan stock company listed on the BSE with a market cap of US $160 million. The company has subsidiaries in Dubai (Turnstar Investment Ltd) and Dar es Salaam (Mlimani Holding Ltd).
In his past career, Mr. Abdoola occupied the position of Chairman at Stanbic Bank Botswana Ltd.
Gulaam Husain Abdoola has only 15.7% shareholding in Turnstar Holdings earning him $12 million.
#4 Chandrakanth Chauhan
Chandrakanth Chauhan is the largest individual shareholder in Sefalana Holding Company Ltd, a listed entity with interests in the manufacturing and distribution of fast-moving consumer goods in Botswana, Zambia, Lesotho and Namibia.
The Zambian-born managing director took Sefalana from a market capitalisation of P64 million (US $5.8 million) in 2004, to its current P3 billion (US $276 million), during which period the group has frequently been the BSE’s top performer.
Chandrakanth Chauhan has an estimated net worth of $12 million.
#3 Farouk Ismail
Farouk Ismail founded the Ismail Group of companies, now known as Choppies Enterprises Ltd. Farouk opened the first store in Wayside, Lobatse in 1986 and has since witnessed exponential growth; today the group has 260 stores in eight countries. He also has interests in Botswana Telecommunications Corporation Ltd, the Dubai based Polyafric Trading DMCC and South African’s Q Tique 79 (Pty) Ltd.
Farouk Ismail has an estimated net worth of more than $35 million.
#2 Abdul Satar Dada
Politically connected businessman, Abdul Satar Dada is the founder of Associated Investment Development Corporation (AIDC). Among other things, AIDC is the controlling shareholder of Tswana Pride, Botswana’s dominant poultry company. Mr Dada is also a majority shareholder in Motor Centre Botswana Ltd, one of the country’s biggest automobile dealerships.
Abdul Satar Dada has an estimated net worth of $50 million.
#1 Ramachandran Ottapathu
Founder of The Far Property Company Ltd, Ramachandran Ottapathu is a member of the Botswana Institute of Chartered Accountants, a member of the Institute of Chartered Accountants of India and he is on the board of 82 other companies.
Up until May of this year1, Mr Ottapathu was the Chief Executive Officer & Executive Director at Botswana’s largest retailer, Choppies Enterprises Ltd.
With his 19.5 % stake in Choppies, Ramachandran Ottapathu has an estimated net worth of more than $60 million dollar.