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BTCL poised for job cuts

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Possible job losses are expected as Botswana Telecommunications Corporation Limited (BTCL) is currently undergoing an organisational structure review to ensure alignment with the company’s recently revised strategy.

Last year, BTCL reviewed its strategy to improve customer service. BTCL Chief Executive Officer, Anthony Masunga said the company’s new strategy is aimed at improving customer satisfaction.

In response to The Midweek Sun questions, BTCL Head of Stakeholder Relations, Thato Sedirwa could not disclose how many employees would be affected but revealed that the strategic alignment is meant to enhance operational efficiency across all divisions. “The exercise has been ongoing since July 2017 and is being undertaken in compliance with the country’s labour laws, and internal consultative processes.

The impact on the human capital will be known upon the completion of the exercise,” explained Sedirwa. She said the exercise has no impact on employee share ownership. For the six months period ended September 2017 BTCL recorded P97.9 million profits compared to P87.8 million in 2016.

Revenue increased to P794.9 million compared to P 776.2 million in the previous year. Over the years BTCL has been recording good performance, and has been able to increase its revenue from P1.0 billion in 2011 to P1.47 billion in 2015, while profit after tax has risen from P177 million in 2011 to P273.6 million in 2013 before falling to P146.8 million in 2015.

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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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