Acute Global Limited is pleased to announce the successful acquisition of the business and certain assets of Payless Supermarkets (Pty) Ltd, marking a significant milestone in the revitalisation of one of Botswana’s most recognised retail brands.
The acquisition was executed through Ellis Retail Group (Pty) Ltd, a special purpose vehicle wholly owned by Acute Global Limited. The transaction received unconditional approval from the Competition and Consumer Authority of Botswana in January 2021 following a comprehensive merger assessment conducted in terms of the Competition Act 2018.
Payless has a long-standing presence in Botswana’s fast-moving consumer goods sector and operates as a convenient one-stop shopping destination for households across Greater Gaborone. The acquisition ensured continuity of operations, safeguarded employment, and preserved the Payless footprint at a time when the business had entered liquidation due to economic pressures exacerbated by the COVID-19 pandemic.
Commenting on the acquisition, Elliot Moshoke, Chief Executive Officer of Acute Global Limited, said:
“This acquisition is aimed at asserting the ambition of a proudly Botswana citizen owned entity that seeks to be among the regionally competitive retail companies. Despite the challenges that Covid 19 presents in today’s economy, we are hopeful that the Payless brand is one that every Motswana connects to, and we aspire to groom it into a brand that we can all be proud of once again.”
During staff engagement workshops held across all eight Payless branches, Ms. Omphile Visagie, Head of Corporate Affairs at Acute Global Limited, addressed employees at the Main Mall Payless store, acknowledging the realities of organisational transition. She noted that periods of change often come with more questions than answers, and commended staff for their continued focus, resilience, and productivity despite the uncertainty that transformation can bring. Ms. Visagie emphasised the Group’s appreciation for the commitment shown by employees and reaffirmed that Acute Global Limited looks forward to rebuilding the Payless brand together with its people as the business enters a new era.
The acquisition aligns with Acute Global Limited’s broader investment strategy of building resilient, locally owned businesses with strong governance, operational discipline, and long term growth potential. It also advances citizen empowerment objectives while ensuring that critical retail services remain accessible to communities across Botswana.
Under new ownership, Payless is being repositioned as a modern and competitive retail chain, focused on affordability, convenience, and sustainable growth, while remaining true to the values and heritage that have made the brand a household name.
