Listing strengthens BTC operations

Despite wobble share movement of the Botswana Telecommunications ( BTC) since its listing on the local bourse, the company has remained resolute to improve customer experience.

“Our listing strengthened our resolve to improve our services to our customers and deliver shareholder value.“So far we have managed to deliver the highest yield on the local stock exchange thereby creating wealth to our shareholders,” said BTC chairperson, Lorato Boakgomo- Ntakhwana, at the Botswana Stock Exchange ( BSE) opening bell ceremony, this week.

This year, BTC sank to 84 thebe, the lowest level it has recorded since listing in 2016, after its retail investor heavy registry cashed out payment of the interim dividends of 3.57 thebe on February 14. BTC is the first stateowned entity ( SOE) to privatise and list on the national stock exchange. BSE chief executive officer, Thapelo Tsheole said listing of BTC has induced conversation with government, to pave the way for other SOEs to utilise the BSE as a capital raising platform, to promote citizen economic empowerment.

He further said listing of BTC brought forth diversification on the bourse, as the first ICTfocused company to list on BSE. BTC had one of the largest and most historic initial public offering ( IPO), due to investor appetite, with over 40, 000 new investors in the market. Meanwhile, BTC has been pushing for open trading of its shares, instead of just citizens trading, as a way of promoting price discovery and the unlocking of the telecomm giant’s true value.

Government holds 54.2 percent of BTCL, followed by individual Batswana who hold about 32 percent.

BTC Chairperson, Lorato Boakgomo Ntakhwana