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Crazy store opens in Game City

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South Africa’s largest discount variety chain, Crazy Store has opened its second store at Game City Shopping Centre in Gaborone. The store, which opened its doors on Friday 16 February, is 173m2 of shopping space in one of Gaborone’s busiest and most well-established shopping centres. The shop sells over 18 core categories including; toys, candy, gifts, plastics, party, stationery, kitchen, bathroom, baby, bleaning, garden, pets, hardware, games, personal care, books, fashion and outdoor to choose from.

Crazy Store’s Managing Director, Kevin Lennett said the shop has resonated with consumers during all types of economic times, making the brand highly popular and favoured with people from all walks of life. “We opened our first store in Mowana Park in Phakalane in 2017 and it has surpassed our expectations,” said Lennet. The South African retail outlet has been offering consumers value for money on everyday items since 1995 and will give consumers in Botswana the opportunity to stretch their money beyond breaking point on a variety of products bound to surprise and delight the whole family.

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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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