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Emotional intelligence key to financial health

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Experts say money and emotions are inter-connected therefore it is important to master the skill of bringing a balance between the two. Calvin Investment Founder and Financial Expert, Calvin Phokontsi says that if one can control their emotions, they can control their money. “Fail to control your emotions, fail to control your money. Mind your emotions, mind your money,” he says. The financial expert who runs a financial advisory firm says generally three percent of an individual’s life comprises of academics, 90 percent – emotions and seven percent natural or motivational influences.

He advises everyone to have a healthy Financial Intelligence Quotient or financial IQ, which is the ability to obtain and manage one’s wealth by understanding how money works. Phokontsi strongly believes that for one to manage and build wealth and a healthy financial lifestyle, it all begins with behavioural change. It is also critical to develop one’s personality before one thinks of investing or saving money because one’s thoughts affect action, action affects habits and habits affect character, which ultimately affects personality and the behaviour of a person.

In his experience as a financial advisor, Phokontsi has realised that many people desire to save money, for example, but only fail because they have not developed discipline and self-control. “All successful people have personal guiding principles,” he said in an interview. Phokontsi says money is only a tool that one can use for wealth creation. “Money is like a mirror; it reflects who you truly are. If you can learn how to handle it, you are halfway through to success,” he said. He has also realised that money and success don’t change people, but merely amplify what already existed. Phokontsi says it is better to start early to develop a healthy relationship with money in order to build wealth in the future.

He advises that during the ages of 21 to 55, people need to be focused on working and building a career, building a home, investments and businesses so that when they reach retirement age, they can enjoy the fruits of their labour and investments.

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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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