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The Botswana Stock Exchange (BSE) is happy to announce that on 11th October, 2021, the bourse recorded the highest turnover in a single day at P1,072,066,804.70. This is the highest turnover ever recorded by the BSE since inception.
This turnover is a result of Access Bank’s 78.15% acquisition of BancABC Botswana. Access Bank is one of Africa’s leading full[1]service commercial banks. Listed on the Nigerian Stock Exchange since 1998, Access Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise and proven risk management and capital management capabilities. Commenting on this acquisition and trade, the BSE CEO, Mr. Thapelo Tsheole said, “We are delighted to welcome Access Bank to the local bourse.
This transaction has reinvigorated the market as performance has been subdued due to the negative effects of the COVID[1]19 pandemic. Current & prospective investors of BancABC Botswana will be looking at this acquisition with great optimism as the Bank will look towards leveraging off Access Bank’s vast network and digital banking capabilities to springboard the Bank’s operations to new heights. Further, this transaction represents a great achievement for the BSE in being able to facilitate large trades in line with our current strategy to increase the average daily turnover levels to P18million per day by the end of 2021. This single trade joins other previous trade records including P494.3 million that was recorded in 2016, P484.6 million in 2017 and P458.6 million in 2018”
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