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Former Vice President Phelekezela Mphoko would be on the verge of being expelled from Choppies supermarkets by his former trading partners led by former Botswana president, Festus Mogae. Mphoko says his family holds a 41 percent share while his partners say he has only received 7 percent so that he is the figurehead. Botswana's trading partners want to exercise a "buy option" in their contract, which will allow them to buy back 44% of the shares at a symbolic price.
In an interview with Zimbabwe Independent, Ottapatu, one of Botswana's partners, said:
At a meeting of the board of directors in 2014, the former Vice President complained that the shares they held in Choppies (7%) were too small. His son (Siqokoqela) corrected him about it. That is part of the minutes of this meeting
With all that has happened and with the opinion of the shareholders, the situation is now ripe to take over the business because the laws of Indigenization is no longer like in 2013, the
However, Mphoko vowed to fight for his rights by saying,
The law is very clear, the retail sector remains reserved for locals. So, they can not be allowed to undermine the laws of the land as and when they wish.
Read also: The former president of Botswana claims his shares in Choppies, says Mphoko was just a front
Zimbabwe Independent
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