Monday, January 30, 2023

Jagdish want to acquire Agrifeed

Serial business entrepreneur Jagdish Shah is expanding his vast business interests in the agricultural sector as he plans to acquire one third of Green Wave Agro Technology, commonly known as AgriFeed.

Shah’s new dealings came to light this week as the antitrust body, Competition Authority, deliberates over the proposed acquisition. Shah already has his hands in the lucrative supply value chain of agricultural products through one of his companies, Rise Above (Pty) Ltd, which is involved in the supply of farming equipment. Mr. Shah is also involved in various businesses which are not directly related to this particular transaction.

The target enterprise, Green Wave, is a company incorporated in Botswana and has a sizeable market share. Green Wave, is a holding company of Intec Solutions (Pty) Ltd; Inmate Enterprises (Pty) Ltd; Zah Holdings; and One Colour (Pty) Ltd. All these four companies trade as Agrifeed. Agrifeed is in the business of supplying animal products; livestock feed; day old chicks; layer pullets; fertilizers; seeds; insecticides; food herbicides; agricultural equipment; and tools in Botswana. The Directors of Green Wave are Manharlala Lallubhai Barot and Ronakkumar Satishchandra Upadhyay, who are both Indian Citizens.

Shah, also the ruling party’s deputy treasurer, has a vast business portfolio that spans properties, advertising, health and fitness, among other known businesses. Originally from India, Shah came to Botswana almost three decades ago and went on to become one of the most successful entrepreneurs in the country. His maiden success could be traced to CA Sales and Distribution, a company he co-founded in 1993, and soon had a firm grip in the supply and distribution chain.

In 2012, Shah and the other co-founder, Ian Thompson, disposed off most of their shares in CA Sales to JSE-listed PSG Holdings, leaving Shah with only 4.8 percent stake in CA Sales. Last year, the trailblazing entrepreneur sold half of his stake when CA Sales listed on the Botswana Stock Exchange, pocketing around P30 million. Shah is also involved in local football, serving as the chairman of Botswana Premier league, and formerly a benefactor to Township Rollers, a leading local football team.


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