The former Vice President Dr. Ponatshego Kedikilwe has been appointed as one of the directors at local group Sefalana Holdings.
The group Finance Director, Mohamed Osman said Friday that Kedikilwe will also take over as the group chairman replacing the late Julian Nganunu who passed away in early August this year.
Sunday Standard has been informed that Kedikilwe assumed his duties as director and chairman at the beginning of this month.
“Dr Kedikilwe, previously the Vice President of the Republic of Botswana, brings to the Board a wealth of experience and expertise which will assist in steering the Group towards further growth and success,”Osman said Friday.
Under the chairmanship of Nganunu, Sefalana Holdings, the parent company to Shoppers supermarkets and Cash and Carry Wholesale outlets continued to impress its shareholders with a good set of financial results.
The group has shown a total turnaround ever since its legal victory against a South African company some eight years back.
In 2009, the group unveiled the Shoppers brand, a chain of wholly-owned retail outlets, which seems to have brought a complete turnaround to the group’s financial performance as well as the highly competitive Fast Moving Consumer Goods (FMCG) industry.
The Shoppers brand has since been rolled throughout the country as well as outside with first one already operating in Katima Mulilo, Namibia.
The Namibian acquisition is expected to increase Sefalana’s turnover by around P800 million in the first 10 months of trading and contributed approximately P30 million to profit, the company revealed as it announced Audited Group Financial Results for the Year Ended 30 April 2014.
Apart from the fast moving consumer goods (FMCG) segment, the group has extended its market presence through diversifying its business into that of investment in property, vehicle dealerships (MAN, TATA and Honda), sale of agricultural and soaps and detergents, and the operation of a travel agency.
Commercial Motors (Pty) Limited won a number of government tenders during the period while service agreements in respect of vehicles sold to date have provided a positive income stream during the year.
The diversified company headed by Chandra Chauhan says it expects its net income and earnings per share attributable to its equity shareholders for the 6 months period ended 31 October 2014 to be significantly higher than that for the comparative period ended 31 October 2013.
The Botswana Stock Exchange quoted outfit is expected to publish its unaudited financial results for the 6 months period ended 31 October 2014 by the end of January 2015.