Sefalana Managing Director, Chandra Chauhan, says despite the devastating effects of Covid-19 in the retail business, the company has not cut staff salaries during the lockdown and even after.
Instead, he revealed the company increased staff salaries in July for every single employee of Sefalana.
Chauhan was speaking during the grand reopening of the revamped Sefalana Shopper in Molepolole on Thursday.
“Sefalana has not retrenched any staff member, not even one. Sefalana hasn’t cut salaries for any single employee during the lockdown and even now and despite Covid-19 and everything, we are increasing salaries for every single employee of Sefalana,” said Chauhan.
The MD revealed that Sefalana has employed 4000 people, including in its stores, Cash & Carry’s and its factories.
Chauhan further stated that the growth and success of Sefalana are translated into the success of Batswana as the group is mostly owned by Batswana mainly through pension funds.
“93 per cent of Sefalana is owned by Batswana, of which Botswana Public Officers Pension Fund (BPOPF) is the largest shareholder at 46 per cent, Motor Vehicle Accident Fund (MVA) owns 12 per cent, Debswana Pension Fund owns 10 per cent,” said Chauhan, also stressing that many other local pension funds hold a stake in Sefalana.
According to Chauhan, Sefalana’s policy is that every year, up to 50 per cent made in profits is given back as dividends to the shareholders who are mostly government employees through their pension funds.
Meanwhile, the revamped Molepolole Sefalana Shopper which was closed last year for upgrading is now the second biggest Sefalana Shopper in the country after the Setlhoa one located in Gaborone named The Big One.
Sefalana Marketing Executive, Reggie Klinck said the store which was previously 900 square meters, is now double the initial size and is now 1800 square meters.
