05 Sep 2018

Botswana Stock Exchange Limited (BSEL) has reported a decrease in equity trade with trade amounting to P1.1 billion recorded in the period between January and August this year compared to P1.8 billion during the same period last year.

The stock exchange chief executive officer Mr Thapelo Tsheole revealed this on Tuesday in Gaborone during the bell opening ceremony to signify the opening of markets.
Mr Tsheole said the reduction was mainly due to the fact that the process of awarding mandates was still ongoing which could have resulted in some companies holding onto their trades.

However, he pointed that the local stock exchange experienced a big increase in bond trading during the same period. “We have had a significant improvement in bond trading for both government, parastatals and corporates.

Total trades increased to P1.1 billion from P266 million from the beginning of this year to 31 August,” he said.

Mr Tsheole also revealed that BSEL had elected its first board of directors since it converted into a company last month. He said the board which comprised of eight independent and two non-independent directors was elected at the company’s first general meeting last week, and that the directors were in the process of being vetted by the Non-Bank Financial Institutions Regulatory Authority.

Mr Tsheole further announced that Botswana Building Society Limited started trading on the stock exchange this week on. He however explained that the company was not yet a listed entity.

“They are on the OTC (Over-The-Counter) board. Theirs is only a registration, but of course with the long term aim of ultimately listing,” he explained. Ends