BSE threatens to de-list Blue

The Botswana Stock Exchange (BSE) threatened to de-list South African micro-lender, Blue, on Wednesday, almost two weeks after the Johannesburg Stock Exchange (JSE) made a similar move. Several individuals and corporations in Botswana are estimated to have invested hundreds of millions in the company which has a primary listing on JSE. There will be no dividends for the investors after Blue announced nearly P1.2 bilion in losses, attributed to harsh market conditions in South Africa.

The threat to de-list Blue followed a disclaimer by the auditors on the group's financial report for the year ending  February 2010. The auditors doubted the company's ability to turn its fortunes around.