africa Botswana Securities

Botswana Stock Exchange announces BWP 1.2B (aprox. £86M) turnover

Botswana Stock Exchange has recorded equity market turnover of P1.2 billion dating from January 03, 2019 to September 27, 2019.

Speaking at the bell ringing ceremony, BSE, chief executive officer Mr Thapelo Tsheole indicated that the January-September market turnover translated to a daily average turnover of P6.5 million with the market capitalisation valued at P408.1 billion.

Mr Tsheole highlighted that the size of the market capitalisation was made of 24 domestic companies, nine foreign companies and one registration, adding that trading on the debt market recorded P87.55 million for government bond and P310 000 for corporate bonds, which translated to seven government bonds and 39 corporate bonds.

He said there were only three Exchange Traded Funds (ETFs) as of the beginning of the year hence the BSE was considering a number of initiatives to encourage company listing in the BSE.

As a way of luring in more company listing, Mr Tsheole said the BSE had embarked on a partnership mission with the Zimbabwe Stock Exchange to promote dual listing with BSE, a move he said was already bearing fruits. Mr Tsheole stated that the markets were generally stable even though there were still pockets of companies still on decline in terms of share prices.

Furthermore, Mr Tsheole highlighted that the BSE was also on a drive to promote financial literacy particularly among tertiary students, noting that financial literacy played a fundamental role in guiding investors to which role to play in financial markets. “The BSE is not only expecting participating in the stock markets since it has realised that there is a gab in understanding financial literature therefore the need to promote financial literacy,” he said. He said the BSE was committed to ensuring that young people used knowledge and skills to manage financial resources effectively for a lifetime of financial well-being.

He said the BSE had realised that financial literacy was one aspect of capital markets that needed a lot of attention as signaled by a number of educational exchange that the BSE was intending to carry on as part of social responsibility.

Also commenting on the importance of financial literacy, University of Botswana, Acting Deputy Vice Chancellor- Student Affairs, Professor Happy Siphambe stated that financial literacy played a crucial role in guiding the society to make wiser financial decisions that would positively impact the country’s economy.

He said financial literature was key in economic growth therefore it was imperial for tertiary institutions to produce entrepreneurial graduates with a well embarked background on financial literacy matters.

Source: Botswana Daily News

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