03 Jul 2018

Vice President Mr Slumber Tsogwane yeterday performed the ceremonial ringing of the Botswana Stock Exchange (BSE) bell to signify its opening and proceeded to extol the virtues of the national burse as a national economic enabler.

The opening bell ceremony, a global stock market trend  originating from late 1800s at the New York Stock Exchange, was only recently introduced locally which Mr Tsogwane said was good for marketing BSE.

“From government’s standpoint, initiatives such as this one are very much welcomed as they demonstrate commitment towards raising awareness and driving Botswana’s local capital markets on the global stage as the preferred destination for issuers and investors,” he said.

He said BSE had a crucial role to play in the economic growth and diversification of Botswana and lauded the institution for displaying innovation.

“The BSE officially launched their five-year strategy in 2017, which will aim to grow the market in terms of the number of issuances, asset classes and investors by 2021.  

Over and above this, the BSE is also undergoing a transitional process to be fully a demutualised entity by the end of 2018.  This transformation will not only enhance the exchange’s governance structure, but will also broaden its access to resources required to fund its growth and innovation,” Mr Tsogwane noted.

Mr Tsogwane revealed that the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) had approved the new equity listings requirements due to commence in the near future, which he said were drafted to reflect international market practices.

Meanwhile, BSE Main Committee Chairman Lt Gen Tebogo Masire said the opening bell initiative was only launched last month as a platform to generate exposure for listed companies, announce relevant news and celebrate milestones.

“We want to use this event to champion causes that are of critical importance to the economy and welfare of Batswana by inviting dignitaries from different sectors and positions, listed companies, the ordinary Motswana who has invested in BSE listed securities or not, as well as heroes and heroines who continue to make Botswana proud,” Gen Masire said. ENDS