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BSE celebrates 30 years

patriot by patriot
January 25, 2021
in Business
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BSE celebrates 30 years
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From humble beginnings in 1989 – operating as an informal market with five (5) listed companies and one brokerage firm –, the Botswana Stock Exchange Limited (BSEL) has successfully transformed into a strong driver of economic wealth that has changed lives of most.

The Minister of Finance and Economic Development Kenneth Matambo showered accolades on the BSEL this week during the Opening Bell ceremony and 30 years anniversary celebration.

He said the BSEL has evolved to be one of the few successful parastatals before it turned into a company following its demutualisation in August last year.

Matambo said the development of the domestic capital market in Botswana over the years, in particular, the securities market was not incidental, but rather a result of a deliberate effort by the Government in recognition of the importance of the Stock Exchange in the mobilisation of finance for development.

“The evolution of the development of the Botswana Stock Exchange dates back to a study by the International Monetary Fund  (IMF) in 1989 entitled: “Botswana: Financial Policies for Diversified Growth”. Among the recommendations of this study was one on the establishment of the securities market, he added.

Matambo said since the adoption of the recommendations of study; the Government has been taking positive steps to promote the development of capital market, and in particular, securities market.

To this end, several pieces of legislation aimed at facilitating the growth of the BSE were developed, which include: the Botswana Stock Exchange Act 56:08 of 1994; Collective Investment Undertaking Act 56:09 of 2001; Securities Act 2014; and the Botswana Stock Exchange Transition Act 2015.

Moreover, Matambo noted that with regards to its growth BSEL has managed to demutualize – a development which has positioned it to play a significant role in deepening of the capital market through encouraging of new public offerings by both domestic and foreign entities.

BSELCEO Thapelo Tsheole said the BSEL has turned into one of the best stock exchanges in the world due to the international recognitions it has received, including being ranked the second best stock exchange in Africa after the Johannesburg Stock Exchange (JSE).

Tsheole said the milestones of the BSEL are attributed to the initiatives it formulated such as the Exchange Traded Funds (EFT) in 2010 being one of the outcomes of innovative investment.

Additionally, other notable highlights bestowed on BSEL – according to Tsheole – include Her Majesty’s Revenue Customs (HMRC) designation of the BSEL as a Recognised Stock Exchange in October 2018.

He also revealed that one of the achievements that BSEL evidenced during his tenure is that the bourse managed to bring in eight (8) listings in the stock exchanges. 

While giving the market performance overview, he said 2019 has been challenging year for now due to trends from the emerging markets with only P280 million turn-over recorded so far which signals 25% decline from the first period as compared to last year.

He also said the Johannesburg Stock Exchange (JSE) has experienced a 40% decline in its total turnovers, saying that he hopes that the market perfomance will improve as the second half of the year approaches.

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  • VACANCIES: BR PropertiesMay 17, 2022
    INTERNSHIP OPPORTUNITY Finance and Administration Closing date: 18th May 2022.
  • BANANA CLUB HOSTS FIRST MAUN EDITIONMay 17, 2022
    The artist-led collective, Banana Emoji Productions in collaboration with the European Union Delegation in Botswana hosted the beloved BANANA CLUB dialogues in Maun on the 14th of May 2022.  The multi-disciplinary creative group is committed to working with artists […]
  • Orange Botswana CEO among Africa’s most inspirational women in leadershipMay 12, 2022
    – Declares House of Rose House of Rose Professional Pte. Ltd (HORP) has announced its 2022 List of Africa’s Most Inspirational Women in Leadership. The list included over 100 inspirational leaders and was curated by House of Rose Professional […]
  • Unions ‘consider’ a Workers PartyMay 12, 2022
    Masisi snubbed trade unions on Workers Day, chose Khawa BOFEPUSU warn Masisi that Khawa could cost him elections Opposition will be top beneficiary of a Workers Party -Analyst BAKANG TIRO editors@thepatriot.co.bw Aggrieved trade union federation, Botswana Federation of Public, […]
  • Munyadzwe breeds, commercialises phane wormMay 12, 2022
    “We have had clients from as far as England, Ethiopia, Nigeria, Ghana and they really like the phane worms. People are talking about snack protein, and we are part of that revolution, food security, healthy sources of protein, going […]
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