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Mpho Masupe appointed the Stanchart CEO

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The Board of Standard Chartered Bank Botswana Limited (SCBB) last week appointed Mpho Masupe as the new Chief Executive Officer of Botswana effective from 1 October 2017. Masupe was the Acting Chief Executive Officer since April 2017 after the departure of former CEO Moatlhodi Lekaukau. He has been serving as Chief Financial Officer of the bank, a position he has held since March 2013.

Masupe has a wealth of knowledge and experience gained over a career spanning more than 25 years in finance and corporate strategy. Prior to joining the Bank in 2013, he worked for several key companies in Botswana like Shell Oil Botswana, Morupule Colliery and Debswana Diamond Company. He holds a MSc in Strategic Management from the University of Derby, a Bachelor of Commerce from the University of Botswana, Executive Development Programme from the University of Pretoria and a Project Management certification. Commenting on the appointment, Standard Chartered Bank Botswana Board Chairman, Professor Bojosi Otlhogile said, “the Board is pleased to be confirming Mr Masupe as Chief Executive Officer.

We are confident that his leadership of this business in Botswana will be to the benefit of the organisation and indeed continue to build on Standard Chartered Bank’s strong relationship with Botswana”. For his part, Masupe said, “being given the opportunity to lead Botswana’s first and longest serving bank is a great privilege, Standard Chartered Bank’s journey with Botswana has been one of close partnership, I look forward to further strengthening our partnership, ensuring the business is growing sustainably and delivering on our commitments to all our stakeholders”.

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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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