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LLR mulls shopping mall in S/Phikwe

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Property investment company, Letlole La Rona (LLR) is mulling over developing a shopping centre in Selibe Phikwe.Currently LLR has one retail property in Gaborone, which translates to six percent of the company property portfolio.

In the company’s 2015 annual report, LLR Chief Executive, Paul More said a feasibility study has already been undertaken that has confirmed the demand for more retail space in Selibe Phikwe and the targeted development will fill part of the existing gap in the gross let- table space. “The site targeted for development is conveniently located at the heart of the town’s CBD and the envisaged retail development will complement the hotel already situated o the said piece of land,” said More.

Speaking to Business Trends, More said currently they are in the process to publish an expression of interest and get advice on the size and how to construct the property. “Construction processes requires a lot of time as there are lots of processes involved. At the moment we are still processing the expression of interest,” said More. He said they want to start the construction by the first
half of 2016.

For the next financial has identified opportunities that will drive the growth of its property portfolio. More said the company is in the process of negotiating substantial standby facilities with a view to taking full advantage of opportunities as they arise. LLR is also listed company.

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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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