Registers biggest 2018 trade of P280m a day
The Botswana Stock Exchange (BSE) Chief Executive Officer, Thapelo Tsheole has said that the BSE continues to do very well in terms of trading activity and attracting investors to the market.
Speaking at the Inaugural Opening Bell ceremony on June 1st, Tsheole cited that the BSE has just experienced a huge trade of P280 million last week Wednesday, two days before the Opening Bell ceremony, which represented the biggest trade in a single day thus far in the year 2018.
The CEO said investors have now become comfortable with trading huge volumes and values of shares on the BSE because of the world class trading and settlement infrastructure that the Exchange has.
He highlighted that in the earlier years, such huge trades as those experienced in 2016 and 2017, which amounted to more than P450 Mn in a single day would not have been executed on the BSE as they did not have the robust infrastructure for smooth and efficient execution, adding that investors would have considered other stock exchanges outside Botswana for execution.
He said the fact that the BSE is able to handle such amounts of money is credited to the support from Government who has funded the BSE to acquire adequate and world class systems and infrastructure used by stock exchanges such as the Johannesburg Stock Exchange and the London Stock Exchange.
“This is a great achievement and we expect more to happen. We have started to get regional and international recognition as a stock market. This year we hosted more than 20 countries in Kasane who are members of the Africa Middle East Depositories Association (AMEDA) for the 27th AMEDA meeting. Next year November we will be hosting the African Securities Exchanges Association (ASEA) annual conference which is expected to be attended by over 400 participants from the African continent and beyond. Further, the BSE has been appointed the Secretariat of the Committee of SADC Stock Exchanges (CoSSE) for the next five years and I am honoured to have been elected the Chairman of CoSSE for the next 2 year. The Secretariat has been based in South Africa in Johannesburg since 1997” said Tsheole.
Tsheole further noted that the BSE will be hosting Opening Bell ceremonies on the first day of each trading month. With time, the Opening Bell ceremonies will be conducted monthly, and then weekly and eventually daily.
Tsheole said this event is meant to increase awareness about the importance of the stock market, complementing the immense community outreach initiatives such as Open Days that the BSE undertakes every year.
Officially launching the Inaugural Opening Bell ceremony last Friday, Minister of Finance Kenneth Matambo said in the past few years the BSE has made significant progress in terms of positioning itself as an important vehicle for investors and issuers.
He commended the BSE for their efforts of embarking on various initiatives to develop the market and increase the reach of the stock market to ordinary Batswana.
“They also have initiatives such as annual listings and investment conference through which the BSE educates companies about growth prospects that can be achieved through the stock market. Their Open Days that are done across the country, such as the recent one in Tsabong, educate ordinary Batswana about investing in the listed securities to promote citizen economic empowerment,” said Matambo.