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BSE celebrates 30 years

patriot by patriot
January 25, 2021
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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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  • Killings of journalists up 50% in 2022, half targeted off duty    January 25, 2023
    Eighty-six journalists and media workers were killed around the world in 2022 – one every four days, according to UNESCO data, highlighting the grave risks and vulnerabilities that journalists continue to face in the course of their work.   […]
  • Judge Tau; please don’t stifle public scrutiny of the Court of AppealJanuary 25, 2023
    Her utterances are misplaced and must be condemned with the contempt it deserves ADAM PHETLHE The Patriot on Sunday dated 15 January 2022 carried an article titled ‘Judge Tau defends CoA Integrity’, with sub-headings “Complains of discrediting reckless statements; […]
  • Miss Botswana 2022 is the Face of KGK DiamondsJanuary 19, 2023
    Its been an exciting first week back to her MBW duties and we kick off the year with an official announcement that Our Queen is The face of KGK Diamonds. Lesego Chombo alongside Nigel Amos was the show stopper […]
  • Executives to watch in 2023January 19, 2023
    A year is often too short to demonstrate your worth, yet that’s exactly what the newly appointed Chief Executive Officers (CEOs) have to do to show that they deserve their enviable roles. PATRIOT BUSINESS looks at CEOs who shall […]
  • BLP TEST AP/BCP UNITY TALKSJanuary 19, 2023
    BAKANG TIRO editors@thepatriot.co.bw The new entrant in the cooperation talks between Alliance for Progressives (AP) and Botswana Congress Party (BCP) – Botswana Labour Party (BLP) has thrown spanner in the works by demanding that both AP and BCP yield […]
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