Sefalana managing director Chandra Chauhan said that they are currently exploring other sites in Maseru for additional store opening due to the potential of the mountain kingdom’s market.
He made his statement while presenting their financial results for the year ended April 30, 2017.
Sefalana operates 3 Hyper Stores, 25 cash and carry shops and 22 retail shops that trade under Shoppers brand.
Since its first day of trading, Sefalana established a very strong presence in the market increasing the group turnover by P155 million in the first six months of operation.
Sefalana started to trade in the Lesotho market last November, after taking over the country’s largest Cash’n Carry Outlet TFS Wholesaler.
Sefalana currently has approximately 51 stores in Botswana and 23 retail outlets with the Kanye and it has plans to open two additional stores in Mogoditshane within this financial year.
This year the Sefalana groupd made a turnover of P4.3 billion with profit before tax down 16% to P75 million.
Mr. Chauhan said that on the property portfolio Botswana contributed about 18% to the group’s profit before tax.
Sefalana intend to build a new store in Keetmanshoop, Namibia, and has already secured a property in the area as well as identified a prime location for the Namibian Head Office and Cash’n Carry.
Two of their largest tenants in Zambia have left for smaller premises and they are on the lookout for replacements.
The Group, that was able to maintain the remaining leases in US dollars, intend to start developing a series of warehouses at the Setlhoa site, which will include a Sefalana Shoppers store together with a number of top high street names.
