19 Oct 2023

Botswana Stock Exchange (BSE) has recorded the highest turnover ever recorded in the history of the institution from January to 30 September 2023.

The performance report for the period under review indicates that the exchange recorded P3.8 billion which translate to an average turnover of P20.4 million per day compared to the P882.3 million turnover for the same period in 2022, indicating  a 330.5 per cent increase. The milestone is attributed to the record deal in Botswana Insurance Holding Limited (BIHL) that amounted to P2.9 billion in September 2023 that constituted the highest ever single day trade in the history of the exchange.

The market report noted that the top three traded companies during the period under review were BIHL (P2.9 billion), Letlole La Rona (P161.4 million) and Chobe (P137.7 million). Total turnover from the three companies accounted for 85.1 per cent of total equity turnover, with BIHL accounting for 77.2 per cent of the total equity turnover.

“In comparison to the same period in 2022, the top three traded companies accounted for 69.1 per cent of total equity turnover with Letshego accounting for 52.5 per cent (P463.2 million) of total equity turnover,” says the  report.

The report says during the period under review, total Exchange Traded Fund (ETF) turnover amounted to P198.9 million, a significant increase of 88.4 per cent from P105.6 million registered during the corresponding period in 2022.

The turnover from bonds amounted to P1.8 billion, an increase of 46.6 per cent from P1.2 billion traded during the same period in 2022. The listed debt instruments comprised of seven government bonds, 64 corporate bonds and 23 commercial papers with a total market capitalisation of approximately P26.2 billion.

The Domestic Company Index (DCI) appreciated by 12.1 per cent in comparison to an increase of 5.6 per cent during the corresponding period in 2022 and the Domestic Company Total Return Index (DCTRI) appreciated by 20.2 per cent in comparison to 11.6 per cent during the same period in 2022.

“The Foreign Company Index (FCI) registered a notable increase of 57.8 per  cent on a year-to-date basis in 2023 in comparison to a marginal increase of 0.8 per cent during the corresponding period in 2022. As at end of September 2023, the FCI had peaked to record levels for the first time since 2008,” the report says.

The last record trade of similar magnitude on the BSE was for the full year 2015 which amounted to P3.0 billion and translated to an average turnover of P12.2 million per day. Ends