Table of Contents
Key Points
- Botswana’s economy has grown at an average of 5% annually over the past decade, driven by stability, sound policies, and private enterprise.
- A new wave of wealthy entrepreneurs in retail, real estate, and tourism is shaping Botswana’s economy beyond its historic reliance on diamonds.
- While Botswana has no billionaires yet, a group of powerful multimillionaires is leading major enterprises, driving job creation and economic transformation.
Botswana, widely recognized for its political stability and sound economic policies, has built one of Africa’s most resilient economies. Over the past decade, its GDP has grown at an average of 5 percent annually, outpacing many of its neighbors.
While diamonds remain the backbone of its economy, a new wave of wealthy entrepreneurs is driving growth in key industries such as retail, real estate, and tourism.
Unlike South Africa, which has several billionaires, Botswana has yet to see an individual cross the billion-dollar mark. However, the country is home to a small but powerful group of multimillionaires whose influence extends far beyond their personal fortunes.
These business leaders have built vast enterprises, creating thousands of jobs and reshaping Botswana’s economic landscape. Their success is part of a larger shift—one where private enterprise is taking on a greater role in shaping the country’s future.
Government efforts to diversify the economy have created fertile ground for these entrepreneurs to thrive. Their businesses are not just about making money; they are engines of job creation, innovation, and upward mobility. As Botswana moves beyond its reliance on diamonds, these individuals are helping to drive that transformation.
Billionaires.Africa highlights the 10 richest businessmen in Botswana, exploring their wealth, industries, and the businesses that make them some of the country’s most influential figures.
- Abdul Satar Dada
Sectors: Automotive, Real Estate, and Media
Abdul Satar Dada is one of Botswana’s most influential business figures, with a diverse empire spanning automotive dealerships, poultry production, real estate, and media. He founded the Associated Investment Development Corporation (AIDC), a conglomerate with interests in motor vehicle sales, steel manufacturing, agribusiness, and telecommunications. Dada is the driving force behind Tswana Pride, Botswana’s leading poultry producer, which brings in over $50 million in annual revenue. He also owns Motor Centre Botswana, a major Toyota dealership. His footprint in real estate includes Mongala Mall, a shopping center in Kanye, and Indaba Lodge, a three-star hotel in Gaborone. In the media space, he owns The Botswana Advertiser, one of the country’s leading newspapers. Beyond business, Dada’s influence extends into politics. A long-serving treasurer of the ruling Botswana Democratic Party and a former member of parliament, his decisions have shaped both the economic and political landscape of Botswana.
- Gulaam Husain Abdoola
Sector: Real Estate
Gulaam Husain Abdoola has built a formidable reputation in real estate investment. He is the founder of Turnstar Holdings, a property investment firm listed on the Botswana Stock Exchange (BSE) with a market capitalization of $115.3 million. Turnstar owns and manages 13 commercial and residential properties, including major shopping malls in Gaborone, Mogoditshane, Francistown, and Dar-es-Salaam. Through his wholly owned GH Group, Abdoola holds a 14.01-percent stake in Turnstar, equivalent to 80,148,355 ordinary shares valued at $12.76 million. His investments extend beyond Botswana, with properties in Tanzania and the UAE, further cementing his status as a key player in the regional real estate sector.
- Chandrakanth Chauhan
Sectors: Retail and Wholesale Distribution
Chandrakanth Chauhan has played a defining role in Botswana’s retail sector. As the Group Managing Director and largest individual shareholder of Sefalana Holding Company Limited, he has helped the company grow into a $300-million retail and wholesale powerhouse. His 5.64-percent stake in Sefalana, worth $14.5 million, reflects his deep involvement in the company’s expansion across Botswana, Zambia, and Namibia. A Chartered Accountant who trained with KPMG in the UK, the Zambian-born entrepreneur became a naturalized citizen of Botswana, where he has built a lasting legacy in the retail industry.
- Ramachandran Ottapathu
Sectors: Retail, Real Estate, and Manufacturing
Ramachandran Ottapathu is Botswana’s wealthiest businessman, with a strong presence in retail, real estate, and manufacturing. As the longtime CEO of Choppies Enterprises, the country’s largest retailer, he owns a 28.96-percent stake in the company, valued at $22.5 million. His investments extend into real estate through Far Property Company Limited, where he holds a 29.95-percent stake worth $18.36 million. Over the past three decades, he has led Choppies' expansion beyond Botswana into South Africa, Zimbabwe, Zambia, Kenya, and Tanzania. Notably, he orchestrated strategic acquisitions, including 21 Jwayelani Retail stores in South Africa and three Ukwala Supermarkets outlets in Kenya, strengthening Choppies’ market position. With holdings valued at $40.9 million on the BSE, Ottapathu continues to shape Botswana’s business landscape.
- Farouk Ismail
Sectors: Retail, Real Estate, and Telecommunications
Farouk Ismail has built a diversified fortune across multiple industries. As co-founder and Deputy Chairman of Choppies, he owns a 17.18-percent stake in the retailer, valued at $12 million. Beyond retail, he has a significant presence in real estate through Far Property Company Limited, where his 28.96-percent stake is worth $18.2 million. He also holds a 1.26-percent share in Botswana Telecommunications Company, valued at about $1 million. His journey began with his father’s small grocery store, Wayside Supermarket, which evolved into Choppies Enterprises. Today, his investments span retail, real estate, and telecom, making him one of Botswana’s most influential business figures.
- Jonathan Gibson
Sectors: Hospitality
Jonathan Gibson is a key player in Botswana’s tourism and hospitality industry. As the driving force behind Chobe Holdings, he holds a 32.36-percent stake in the company, valued at $36.4 million. Chobe Holdings operates some of Botswana’s most iconic safari lodges and camps under brands such as Desert & Delta Safaris, Chobe Game Lodge, and Ker & Downey Botswana. The company manages 14 establishments with a total capacity of 333 beds, spanning northern Botswana and the Zambezi Region of Namibia.
- Guido R. Giachetti
Sectors: Real Estate
Guido R. Giachetti, son of RDC Properties co-founder Giorgio Giachetti, owns an 11.4-percent stake in the company, valued at $15 million. With a background in civil engineering and business management from Harvard and INSEAD, Giachetti has played a key role in property development for over three decades. His contributions to the industry have earned him international recognition, including honors from the King of Spain and the Knights of the Order of the Star of Italy. In 2023, the Italian-South African Chamber of Commerce named him Businessman of the Year.
- Giorgio Giachetti
Sectors: Real Estate
Giorgio Giachetti, co-founder of RDC Properties, has built a strong real estate portfolio. He owns a 9.95-percent stake in the company, valued at $13.1 million on the BSE. RDC Properties operates across multiple markets, including Botswana, South Africa, Namibia, Mozambique, the United States, and Madagascar, making Giachetti a key figure in the region’s property sector.
- Duncan Lewis
Sectors: Real Estate
Duncan Lewis, CEO of CA&S Group since 2013, has made a name for himself in real estate and consumer goods. He holds a 2.97-percent stake in the company, valued at $12.3 million. Starting his career in industrial marketing before joining PnS in 2003, Lewis has used his expertise in FMCG and strategic growth to enhance shareholder value. His leadership has helped CA&S Group establish a strong market presence on the BSE.
- Adams Dambe Chilisa
Sectors: Fast-Moving Consumer Goods
Adams Dambe Chilisa is a well-known investor with interests in Botswana’s hospitality sector. He holds a 5.7-percent stake in Chobe Holdings, valued at $6.4 million. Through his investments in tourism and consumer goods, Chilisa has positioned himself among the country’s top entrepreneurs, contributing to Botswana’s economic growth.
