Mphoko On The Verge Of Being Booted Out From Choppies Supermarkets

Former vice president Phelekezela Mphoko is reported to be on the verge of being booted out from Choppies Supermarkets by his former business partners led by former Botswana president Festus Mogae. Mphoko claims that his family owns 41 percent while his partners contend that he was given only 7 percent for him to be the figurehead. The Botswana business partners want to exercise a “call option” in their agreement which will allow them to buy back 44 percent of the shares at a nominal price.

In an interview with Zimbabwe Independent, Ottapatu one of the Botswana partners said,

At a board meeting in 2014, the former vice-president complained that shares they held in Choppies, 7%, was too small. His son (Siqokoqela) corrected him on that. It is recorded as part of minutes for that meeting.

With all this that has been taking place and with the shareholder feeling the situation is now ripe to take over the business because the indigenisation laws are no longer as they were in 2013, the

However, Mphoko has vowed to fight for his rights saying,

The law is very clear, the retail sector remains reserved for locals. So they can’t be allowed to undermine the laws of the country as and when they wish.

Also Read: Former Botswana President Demands His Shares In Choppies, Says Mphoko Was Just A Front

More: The Zimbabwe Independent

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10 comments on “Mphoko On The Verge Of Being Booted Out From Choppies Supermarkets

  1. Really pple marched n celebrated yet fo e person hu hated him in speech is e vry person hu goes fo advise n money to …. indeed ts politics

  2. But shud he be surviving on e funds of e general population varikutumira maDollar paEcocash fo him to go and ax fo assistance frm MugEvil

  3. kwekwe is not all that big to an extend that even if it does not exist Zimbabwe in line with ED is enough and safe

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