BSE targets P18.0 million per day turnover

Botswana Stock Exchange (BSE) has announced intentions to increase turnover levels to P18.0 million per day, next year.

Available statistics show the BSE recorded average daily turnover of P2.82 Million of 268.9 million shares traded, with a market capitalization of P392.7 billion between January and August 2020.

Central Securities Depository Botswana (CSDB), Chairperson, Basimane Bogopa said the new targets will be fruits from upgrading the current Automated Traded System (ATS) to increase capacity that will ensure that the trading system is able to handle larger trades.

The new CSD system comes with new functionalities such as securities borrowing and lending (SBL), management of the settlement guarantee fund, IPO processing, e-voting for listed entities, repo management and online investor access, among others.

“The upgrading of this system supports our strategy to grow the market and increase the average daily,” said Bogopa, adding that the projects are expected to be concluded before the end of the year.

This week, BSE launched a new website, mobile application and stock market ticker, as part of the September 2020 edition of the opening bell ceremony.

The ticker is expected to provide real-time market information that will include price and indices movements, X-News announcements, turnover level, volume and other relevant market information. Bogopa said the information will assist investors and various stakeholders to stay abreast of the rapidly changing financial market conditions and position the exchange at the forefront of information dissemination and encourage transparency. Sharing the same sentiments, BSE Chief Executive Officer, Thapelo Tsheole said: “These three technological advancements are meant to improve visibility for the exchange, as well as listed companies and to increase the flow of information to our stakeholders.”

Meanwhile, Mayor of Gaborone, Father Maphongo has urged Batswana to be actively involved with the stock exchange as it is a vehicle for wealth creation.“As often alluded, it is the epicenter of capital markets, as such, we need to utilise it to derive benefits that can better our daily lives as we all have a key role to play in developing our country,” Maphongo said.