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BDC offloads Kwalape shares

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Botswana Development Corporation (BDC) this week disclosed it has transferred its 40 percent shareholding and facility interest in Kwalape Tours and Safaris to a citizen-owned company, Dekete Guys Limited.

The transaction was concluded at a hand-over ceremony on the 13th August 2018 at Kwalape Safari Lodge in Kasane. According to BDC, which is a government’s investment unit, the transfer is part of its broad strategy to divest from mature industries and sectors that had demonstrated adequate private sector capacity. The Corporation has approved an offer for its interest in Kwalape, which are the purchasing of both ordinary and preference shareholding and credit facilities.

BDC Managing Director, Bashi Gaetsaloe is thrilled on the latest developments. “We are pleased to see Kwalape having attained a mature business status as evidenced by its ability to self-sustain in a tough and competitive tourism sector. On the back of our robust corporate governance processes, we ensured all checks-and-balances were followed as well as reviewing prospective investors inorder to appoint the right operation to take-up our shareholding,” said Gaetsaloe. “We believe the profile and projections of this investor would sustain the business continuity and open new doors for Kwalape’s growth in the long term. We are confident in Dekete’s vision for the business”.

In 2007, BDC entered into a partnership with the company, subscribing to 40 percent, while the founders remained with a majority 60 percent shareholding. Kwalape, trading as Kwalape Safari Lodge, is located along the Kazungula-Kasane Road, Kasane in the Chobe District, the tourism hub of Botswana. The resort offers an extensive bouquet of tourism activities such as boat cruises on the Chobe river, safaris and game drives in the Chobe National Park and tours of the tourist attractions in the region such as Victoria Falls and Livingstone Memorial through strategic partnerships.

Kwalape was established in 1999. “I believe that partnering with giants such as BDC helps one grow in that they push you to pursue for much bigger and better than what many of us as start-up entrepreneurs could think possible. I appreciate the relationship we have built with BDC over the years and look forward to Kwalape’s next chapter with Dekete Guys,” said Kwalape Tours and Safaris Managing Partner, Milton Khachana.

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BSE upgrades online investor access

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A recent BSE opening bell function.

Botswana Stock Exchange Limited (BSEL) will this year introduce a new clearing and settlement system, as part of efforts to improve operations of the bourse.

Speaking at the seventh opening bell ceremony, Chief Executive Officer, Thapelo Tsheole said the development will help improve liquidity and risk management. In addition, the new settlement system replaces the 2008 system while fast tracking introduction of security borrowing and lending, management settlement guarantee fund, as well as identifiers for companies and instrument.

BSEL has already awarded a contract to a Swedish company to implement the system which is also expected to digitalize Initial Public Offering (IPO), allow electronic voting for listed companies during annual general meetings (AGM) for absent shareholders.

The project, which is expected to take eight months once the two parties sign the deal, is part of efforts to have more online investors access for BSEL. Tsheole also revealed that BSEL website will undergo a revamp this year, allowing it to be more analytic, live feed shares, as they trade.“The tender is already out for the website and mobile application. It is a project that we had hoped to implement last year but because of logistic problems, we could not do it,” said Tsheole.

BSEL further plans to introduce two data display screens at CBD and at the stock exchange.“These will assist with information sharing and keep the market updated,” said Tsheole. Meanwhile, BSEL will not change its Automated Trading System (ATS) until 2022, according to Tsheole.“The system supports our strategy to grow the market and increase the average daily turnover levels to 18.0million per day by 2021,” said Tsheole.

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BSE complies with reporting guidelines

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Botswana Stock Exchange Limited (BSEL) has become the 5th bourse in Africa to comply and publish Environment, Social and Governance (ESG) reporting guidelines.

The development comes a year after BSEL became a partner exchange of the United Nations Sustainable Stock Exchange (SSE) Initiative.“The BSE made a commitment to publish guidance on ESG Reporting. This commitment has been fulfilled.“

We are the 42nd among the 81 SSE Partner Exchanges globally and the 5th in Africa to do this,” said Kgotla Segwe, Market Development Specialist at Botswana Stock Exchange Limited.
Other stock exchanges that have complied with the SSE initiative on the continent are from South Africa, Nigeria, Morocco and Egypt.

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