Botswana-based retail giant Choppies is the 118th fastest-growing company in Africa, according to the Financial Times' latest "Africa's Fastest-Growing Companies 2025" list.
The list is compiled in conjunction with research company Statista and is now in its fourth year, ranking businesses according to the compound growth rate of revenue between 2020 and 2023.
According to the list, Choppies, which is the only company from Botswana in the 130-company list, achieved a cumulative annual growth rate (CAGR) of 60% and 17%, respectively. In 2020, Choppies' revenue was $632 million, compared to $465 million in 2020.
Three companies from Nigeria- OmniRetail, PalmPay, and Remedial Health- make up the Top 3, while Eshandi from Zambia and Africaworks from Mauritius complete the Top 5. South Africa alone accounts for 51 companies in the list, including TymeBank and Planet Fitness.
In its latest results, Choppies' revenue surged nearly 20%, reaching P4.72 billion, thanks to new store openings and increasing demand. However, this growth came at a cost. Operating expenses climbed sharply, and the company took a financial hit from the sale of its struggling Zimbabwe operations.