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BSE records P236.2 million turnover

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Botswana Stock Exchange (BSE) has recorded a turnover of P236.2 million from a volume 100.7 million shares traded as at March 31, 2018, the Market Status Report for period January 1 to March 31, 2018 reports.

The Stock Exchange had registered a turnover of P532.8 million and a total volume of 173.9 million shares traded during the same period in 2017. The report indicates that the year-to-date period turnover in 2018 was relatively less stable compared to the same period in 2016 and 2017.

According to the report, a relatively fewer companies accounted for a relatively larger amount of turnover over this period compared to the same period in 2017. This has been attributed to the fact that, the top three traded companies in terms of value, on a year-to-date basis, were Letshego Holdings Limited (P118.0 million), CA Sales Holdings Limited (P31.0 million) and First National Bank Botswana (P30.8 million) and these accounted for 76.2 percent of total turnover during the period to end of March 2018. During the same period in 2017, the top three traded companies accounted to 49.1 percent of turnover. During the first quarter of 2018, the ETFs market was less active compared to first quarter of 2017.

The volume of ETF units traded was 451 868 in 2018 while the turnover registered was P41.4 million. Over the same period in 2017, the number of units traded amounted to 3.1 million yielding a turnover of P122.9 million. Activity in the bond market had decreased in 2018 (period to 31 March 2018) compared to the same period in 2017.

The value of bonds traded over the period was P27.4 million in comparison to P91.2 million traded over the same period in 2017. Bank of Botswana (BoB), on behalf of government, held its first bond auction of 2018 on March 2, offering additional tranches of the BW007 (P77 million allotted), BW008 (P100 million allotted), BW011 (P100 million allotted), BW013 (not allotted) bonds and a Treasury Bill (P220 million allotted).

The BSE has registered one bond listing so far, being the BW013 bond, which was issued at the December 1, 2017 auction and listed on the BSE on January 24, 2018. In total, there are 44 listed bonds compared to 42 bonds as at March 31, 2017. Market capitalisation of listed bonds increased to P14.8 billion compared to P11.9 billion as at the same period in 2017.

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Matambo calls on financial sector to pick GDP

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Finance Minister, kenneth Matambo

Finance Minister Kenneth Matambo has announced that government is committed to support financial service sector to prop up the country’s Gross Domestic Product (GDP).

Currently contributing over 13 percent to GDP, Matambo said the sector has potential to increase its share. “Hence government’s interest in the sector,” said Matambo addressing delegates at the inaugural Botswana Insurance Holdings Limited (BIHL), Global Financial Summit.

The country has built a strong, resilient and fast growing financial sector underpinned by a robust regulatory framework. The finance minister who is expected to step down next year, noted that government’s commitment to the financial service sector has this year been buttressed by a number of laws passed in July relating to money laundering activities.

In addition, Matambo said the continued investment in the development of information, communication and technologies (ICTs) backbone infrastructure is also to support local banks’ rising appetite for online services.

The Minister said the country remains committed to maintaining micro-economic stability to spur private sector participation in the economy. “Our vision is to become a high income country by 2036,” said Matambo, challenging the private sector to step forward and help government to develop the country, bemoaning the low levels of financial inclusion and shallow domestic capital markets.

He said the private sector should come up with more initiatives to develop further the local capital markets. The Minister’s sentiments were also shared by Martin Davies, Managing Director for Emerging Markets and Africa at Deloitte who has challenged the country to start dealing with its low manufacturing value add.

“How do we start to diversify beyond the single commodity economy,” quizzed Davies, adding that manufacturing increase is vital for low inequality across the country.

“Inequality results in bad public policy, as the state starts to believe and think they have to intervene more,” said Davies, highlighting that the country needs to move away from the absolute concept of state drive growth. Meanwhile, minister Matambo has applauded the private sector for leading economic dialogue in the country through events such as the BIHL Global Finance Summit.

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First Lady advises women entrepreneurs

Keikantse Lesemela

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First lady, Neo Masisi

First Lady, Neo Masisi has urged women entrepreneurs to bring change in the economic development of the country and the rest of Africa.

Speaking during the Lioness Lean in Africa breakfast on Friday, Masisi said women entrepreneurs are remarkable engines of economic growth and job creation. “I believe women entrepreneurs hold incredible potential and credentials on the continent because Africa has the highest percentage of women entrepreneurs in the world.

It is projected that millions of much needed jobs will be created over the next decade and these will be created predominantly through small businesses which are mostly run by women,” said Masisi.She highlighted that women entrepreneurs are also the most powerful engine for equitably distributing growth and they are also solutions for addressing inequality on the continent.

“It is a proven fact that for many generations, women understand the simple concept of barter and commerce. These are the role models of our past and our present and they will continue to inspire new generations to do more for business to grow,” she said.

The Lioness Lean In Breakfast Series brings together inspirational and successful women entrepreneurs to share, inspire and connect with the next generation of great women-led start-ups.

The platform is based on a breakfast networking and speaker presentation format, which has been organized in locations across the African continent for the past year by Lionesses of Africa, empowering over one million women entrepreneurs across the continent.

Stanbic Bank Botswana Head of Personal Markets, Omphemetse Dube said they are pleased to bring the Lionesses of Africa Lean In platform to Botswana once again to bring together women entrepreneurs in the country and help to nurture their growth further.

“Botswana is blessed with a number of thriving female entrepreneurs, and the potential for the next generation of talent is strong. Platforms such as this are therefore paramount in growing the cause and we as a bank are proud to help champion that movement further,” said Dube.

Founder and CEO of Lionesses of Africa,Melanie Hawken noted that Gaborone is a growing and exciting centre for women’s entrepreneurship in Africa. “This is a must-attend event for women entrepreneurs in the country as it gives them the opportunity to hear the inspiring entrepreneurial stories of women who are building great businesses here,” she said.

The annual Lionesses of Africa event allows entrepreneurs to benefit from the insights and advice of women entrepreneurs who have seen and experienced it all and to also provide an excellent opportunity for networking.

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