Botswana Stock Exchange Limited (BSEL) CEO Thapelo Tsheole has revealed that they aim to attract at least two listings in a year until 2021.
Speaking this morning (Friday) during the opening bell ceremony, Tsheole disclosed the ambitious plan which he says so far is progressing well.
Since being appointed to the local stock market position in January 2016, Tsheole says the BSEL has attracted about eight listings.
“Unfortunately last year we had two delistings because companies list on the stock market and then over a certain period of time, some think it’s not worth it to remain listed because they probably could not find the minerals they were prospecting for and for other reasons like not doing well,” explained the BSEL chief.
Companies that delisted from the stock market last year are African Energy Resources and Blue Financial Services.
Tsheole explained that the latter delisted because it was under suspension for four years due to non-compliance.
Providing a sequence of why it scrapped off the stock market, Tsheole said; “It was primarily listed at the Johannesburg Stock Exchange and it was not complying with the listing of the primary market and of the secondary market, and therefore the JSE decided to delist it after four years of non-compliance.
According to the BSEL head, it is not abnormal for a company to be suspended for a very long time.
“In the stock market we do not use emotions to manage or regulate companies, it is not how people feel or aggrieved, there are listing rules that we follow. It is an international practice, so when I suspend Choppies for a few months, don’t think I am being lenient on it,” he said.