Court battle is on for Choppies cash

BUSINESS

Former Zimbabwean second vice-president Phelekezela Mphoko and his son, Siqokoqela, have filed papers in the Zimbabwean high court demanding payment of their 51% shareholding – which is worth $22.6 million (R366.6 million) – from Botswana-based multinational grocery and general merchandiser Choppies Enterprises.

Choppies partnered with the Mphokos’ company, Nanavac Investments, in 2013 when it expanded into Zimbabwe and, according to the country’s indigenisation law, the local partners should have become 51% shareholders in the 32 outlets across the country.