BSE expects more listings in 2023

Tshepo Kehimile

Following a fruitful year of a Domestic Company Total Return Index of 16.8 %, Botswana Stock Exchange (BSE) Chief Executive Officer (CEO), Thapelo Tsheole is optimistic about more companies listing under BSE in 2023.

In an interview with Voice Money on Monday, Tsheole said he was happy about how BSE has performed in 2022.

“We are very happy with our Total Return Index of 16.8 % in these challenging times as we just recovered from Covid-19.

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Furthermore, we have been preparing ourselves which is a very long process, however – we are in talks with many companies for possible listing on the stock exchange. We have received so many inquiries with regards to listing in 2023 and that brings us hope,” he said.

Typically, the stock market and economic performance are aligned. Thus, when the stock market is performing well, it is usually a function of a growing economy.

Closer to home, the BSE CEO highlighted the importance of having many companies listed on the stock exchange to the country’s economy.

“The more companies listed, the more activity in the stock market which will depict the local market structure and ultimately lead to economic growth.

Subsequent to these anticipated developments, various companies will be able to expand their services and products because they will have access to capital from the stock market,”

In the BSE Market Performance Report from a period of January 1 – November 30, 2022, the top three traded companies during the period under review were Letshego (P492.6 Million), FNBB (P87.9 Million) and Sefalana (P63.4 Million).

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The total turnover from these three companies accounted for 63.9% of total equity turnover; with the leading counter, Letshego accounting for 48.9% of total equity turnover.

Letshego’s considerable contribution to total equity turnover results from two significantly high trades of P183.0 Million on 23rd March 2022 and P142.7 Million on 17th June 2022 accounting for the two highest daily trades per counter in 2022,”

On the Equity Market Performance, “During the period 1 January to 30 November 2022, the Domestic Company Index (DCI) appreciated by 8.8% in comparison to an increase of 1.7% during the same period in 2021.

The DCTRI appreciated by 16.8% in comparison to an increase of 10.9% in the corresponding 2021 period,”

Quizzed about some of the Corporate Social Responsibility (CSI) in place for 2023, he said; “We are going to continue with two schools that we have been taking care of the past two years now. The schools are Kareng and Metsimantswe and they are located in Ngamiland and Gantsi Districts respectively,”

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