06 Jul 2023

The Botswana Stock Exchange (BSE) has since its operation played a central and critical role in raising capital for new and established companies in the country with a market capitalization of 30-35 percent to the Gross Domestic Product, says permanent secretary in the Ministry of Finance, Mr Olesitse Masimega.

Mr Masimega who was speaking at the launch of BSE head office building project on Wednesday said the number of securities currently listed in the BSE stood at 31 equities, 45 bonds and five exchange traded funds with a total market capital of P391 billion.

The BSE, he said, was steadfast in its performance as described by the market performances for the period January 01, 2023 to June 22, 2023 where equities traded to a total of P410 million which translated to an average daily turnover of P3.5 million.

Mr Masimega said the market capital amounted to P391 billion across 23 listed domestic entities and seven foreign companies.

 He said on the debt market, government bonds traded P760 million while cooperates bonds traded P29 million which translated to a total trade of P788 million.

 Mr Masimega said government, as the majority shareholder in BSE has been supportive to the institution during both post and pre demutualization period.

To that end, he said it was commendable for BSE to construct its own head office adding that it was in line with being consistent with international stock exchange standards.

“The iconic building will be of importance to the BSE since it will save rental costs and open new streams for the entity to generate more revenue by leasing out office space,” he said.

Since employment creation was one government’s top priority area, Mr Masimega said, the project was anticipated to create employment for those in the construction business. He thus applauded BSE for making a significant investment in the economy through job creation.

Additionally, BSE board member Mr Ogone Mothooage said construction of BSE head office marked a significant milestone achievement for the entity and the beginning of an extraordinary journey that would transform the markets.

“The building would resonate well with BSE mission to drive sustainable economic growth by providing a gateway for raising capital and accessing investment opportunities for the benefit of issuers, investors and stakeholders,” he said.

Mr Mothooage said the proposed BSE head office would provide a vibrant space that fostered partnerships and a meeting place for investors and other captains of the industries to ignite the spark of business innovation on how best to transform the BSE into a world class entity.

The construction of the new seven-story building, which is to be in Gaborone Central Business District is scheduled to commence in the 4th quarter of 2023. Ends