Connect with us

Business

BSE braces for listings conference

Published

on

Botswana Stock Exchange (BSE) has unveiled four main sponsors for this year’s Listings Conference that is scheduled for March 8. The four are; Botswana Insurance Holdings Limited (BIHL), Choppies, Monthe Marumo Attorneys and Rantao and Kewagamang Associates. Chief Executive Officer, Thapelo Tsheole said ahead of the March conference that they are working hard to raise awareness about the stock market in order to attract companies to the bourse.

According to Tsheole, the aim of the conference is to open up the BSE to the business community and bring together under one roof, all stakeholders, public and private companies with the potential to list on the BSE, listed companies and experts in capital markets to discuss among others; the importance of listing, listing processes and requirements. Among the topics that will be discussed at this year’s conference are; listing family-run businesses, crypto currencies, listing innovative products and the World Federation of Exchanges that BSE subscribes to will be represented. Tsheole said through the conference they are creating relationships with the private and unlisted companies and establishing a means of educating the present and future business owners about the value of utilising the BSE to pursue growth opportunities.

“We want to attract more companies to list because through listing they do not only raise capital for themselves but they contribute to economic diversification and development,” said Tsheole. He said last year BSE has seen three new companies listing including Minergy, CA Sales and Tlou Energy. According to him, since 2016 the BSE has been working with a few companies with the hope that they would list. “We will begin to see results of these engagements this year and next,” he said. Among exciting developments that the BSE is embarking on this year and going forward, is to install a statue of a stock market bull in their premises and a ticker that show prices as stocks trade.

All this as part of sensitising the public about the stock exchange. The first listing conference held in 2016 attracted 150 companies and last year attracted about 400 companies. Tsheole said the conference is part of the BSE strategy to raise capital and increase turnover. The BSE market performance report for 2017 shows that BSE realised a turnover of about P2.4 million which is a slight decrease from P2.5 million raised in 2016. The average daily turnover for 2017 amounted to P10 million compared to P10.2 million in 2016. Tsheole said the bond market activity improved in 2017 compared to 2016 as the value of bonds traded increased from P483.8 million in 2016 to P535.6 million in 2017. BIHL Chief Executive, Cathrine Lesetedi said listing on the BSE is one of the platforms to diversify the economy and it also enables the companies to exercise good corporate governance.

“Listing encourages good corporate governance with high standards of reporting and transparency,” she said. Lesetedi also highlighted that BIHL has benefited a lot from listing, as it is currently the second largest company by market cap on the BSE. She added that corporate governance at company or country level is critical as it can mean the difference between failure and success.

Continue Reading
Comments

Business

Engen profit goes up

Koobonye Ramokopelwa

Published

on

Engen Botswana, the only listed petroleum company is expecting better results for the six months to June 2018 as a result of favourable trading environment. For the six months period to June 2017, the company made a profit of P55,2 million.

Engen, which supplies petroleum products to retail and institutional clients said, compared to the same period in 2017, profits will be higher on the backdrop of rising international crude oil prices. According to available data, oil prices jumped by 20 percent in the first six months of the year to close at $73 per barrel. Yesterday (Tuesday), oil prices were hovering at $77 per barrel.

The firm, like its peers has also been bolstered by government decision to hike petroleum prices in May. Petrol went up by 23 thebe, 45 thebe for diesel and 38 thebe for paraffin, all per litre. Eric Molale, the minister responsible for petroleum products in the country did not rule out any price increase in the foreseeable future on the backdrop of rising international oil prices.

Local users of petroleum products are not even saved by the fact that the National Petroleum Fund-which cushions customers against increasing oil prices, is fast running dry due to alleged misappropriation by those tasked with maintaining it (the Fund).

Meanwhile, Engen which is headed by Chimweta Moonga has told its shareholders that results will be out before this month ends. “Therefore shareholders are advised to exercise caution when trading in the group securities until such time as a detailed announcement is made,” said a statement from the BSE listed firm.

Continue Reading

Business

Graduates urged to be innovative

Keikantse Lesemela

Published

on

Botswana Institute of Chartered Accountants (BICA) President, Verily Molatedi has urged graduates to look beyond job seeking and come up with creative and innovative ways to create employment and contribute to economic development.

This Monday, over 400 students graduated from Imperial School of Business and Science (ISBS) from different fields including business management, Association of Accounting Technicians (AAT), finance and banking, human resource management, tourism and hospitality management and advertising. The ceremony was the first batch of students who completed degree programmes in ISBS.

Speaking during the graduation ceremony, Molatedi said the 21st century is awash with many opportunities and challenges but it is only the optimistic that can rise above and turn challenges into opportunities. “I therefore urge all graduates to acknowledge and take advantage of the government efforts in providing facilities beyond tertiary education and contribute towards economic diversification. To this end some of you may have to be entrepreneurs,” said Molatedi.

Molatedi explained that with over 10 000 graduates annually produced in tertiary institutions, graduates must continually build their skills and think innovatively and create their own brands as this will increase their chances of employability globally.

“Employability is about making sure that you diversify your skills, get knowledge for the industry. It is the key to realizing our economic diversification agenda, and hinges on your availability to be enablers in the country’s present and future economy,” said Molatedi.

Imperial School of Business and Science Director, Nidheesh Sharma said graduates have unique professional identity and a set of values and beliefs that will allow them to continue their quest for lifelong learning and distinguish themselves in their chosen paths as the faculties offered are globally recognized.

“Previously we have had many students completing certificates and diploma programmes but this is the first batch to have completed degree programmes. Graduating annually, young professionals were imparted with the knowledge and skills that are required by the regional and global job market,” said Sharma.

Sharma highlighted that ISBS started in 2003 as a BOTA registered institute and in 2011 it registered with Tertiary Education Council (TEC) and started offering Diploma and Advanced Diploma Programmes. “In 2013, the school re-branded from its old name to current name, ISBS. In 2015, ISBS was awarded best upcoming Institution by HRDC and in 2018 HRDC put us in the top three of Private Colleges,” he said.

Continue Reading

Trending