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Jagdish dominion spreads to Agriculture

Publishing Date : 04 June, 2018

Author : TSAONE SEGAETSHO

Competition Authority (CA) is yet to receive any opposition from any person, including a third party not party to the proposed acquisition of 33.33% of shares in Green Wave Agro Technology (Pty), trading as Agrifeed, by wealthy businessman Jagdish Shah.


In an interview with BusinessPost, Shah said two Agripreneurs,  Manharlala  Barot and Ronakkumar Upadhyay have asked him to join the board as an investor in the business which deals with the supply of animal products; livestock feed; day old chicks; layer pullets; fertilizers; seeds; insecticides; food herbicides; agricultural equipment; and tools in Botswana. Barot and Upadhyay are Indians while Shah is a naturalized Motswana from India.


“I am just investing in Agrifeed, they were looking for an investor and they found me to be suitable. They wanted someone to finance them. Farming or Africulture is a big business and it will be a more big business in coming years hence my growing interest,” said Shah in an interview.


The antitrust body, CA had to be involved in Shah’s interest in getting Agrifeed because he already has a company called Rise Above (Pty) Ltd which is involved in the supply of farming equipment. However Shah is also involved in various businesses which are not directly related to this particular transaction or the farming business.


Shah’s interest in the company he is known for as he co-founded it in 1993, CA Sales, has been diminishing with years since 2012 when together with his partner Ian Thompson, they decided to dispose off most of their shares in the company to the Johannesburg Stock Exchange listed PSG Holdings. This left Shah with a stake of only 4.8 % in CA Sales.


When CA Sales listed on the Botswana Stock Exchange Shah sold almost half of his shares and walked away with P30 million. The shrinking of his shares at CA Sales could mean Shah is now eyeing the farming business which many experts believe is the future for this country and Africa.


Agrifeed owns four companies namely; Intec Solutions (Pty) Ltd; Inmate Enterprises (Pty) Ltd; Zah Holdings; and One Colour (Pty) Ltd. Shah’s financial prowess is expected to breathe air to these companies, should CA approve the shares acquisition. Shah owns a popular local football team, Township Rollers and is also deputy treasurer of ruling Botswana Democratic Party.

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