BSE powers against economic contraction in 2025
Mbongeni Mguni | Wednesday January 14, 2026 06:00
The DCI rose by 12.2% in 2024, putting on more than P6 billion and again swimming against the three percent contraction in the economy that year.
Available figures show that in 2025, the DCI began the year in fits and starts, before picking up from April, and then climbing sharply in the fourth quarter.
The DCI reached its lowest point in March and hit its peak on December 31, data shows.
Figures up to November revealed that regional grocer, Choppies, was leading the charge with its share price having gained 48.1% between January and November. The homegrown retailer was followed by Standard Chartered Bank Botswana, Sechaba Holdings, Botswana Telecommunications Corporation Limited and Sefalana.
On the other end of the scale, the worst performing counter in terms of share price was G4S Botswana which had shed 62.9% between January and November, followed by Letshego, Turnstar and Cresta Marakanelo.
“Out of the 33 listed companies, including BBS on the Serala OTC Board and GAIA Renewables on the Investment Entities Board, 19 appreciated in share price, 10 experienced no share price movements while four depreciated in share price,” the BSE reported in an update for the period between January and November.
The Exchange’s CEO, Aupa Monyatsi, said the progress achieved in 2025 reflected deliberate choices, strong partnerships, and shared commitment across the capital markets ecosystem.
“The year 2025 has been a defining chapter in the evolution of the Botswana Stock Exchange,” he said at a capital markets dinner held in late December. “It marked a deliberate shift from incremental advancement to long-term transformation with the launch of our 10x by 2030 strategy. “This strategy sets out a bold ambition: to position the Botswana Stock Exchange as Africa’s premier capital-raising hub, while ensuring that the growth of our markets translates into tangible economic outcomes for Botswana.”
Monyatsi added 2026 was shaping up to be a transformative year for the Exchange, with a number of initiatives planned to deepen the capital market.
These include the eagerly anticipated launch of the Motheo SME Fund.
“This fund is designed to expand access to patient capital for small and medium-sized enterprises, providing a structured pathway into capital markets while unlocking new investment opportunities linked to Botswana’s growth economy,” the CEO said.
The BSE is also scheduled to launch the Botswana Mercantile Exchange, a commodities exchange that will strengthen price discovery, broaden asset classes, and deepen the connection between capital markets and the real economy. Monyatsi said the initiative reflects the BSE’s commitment to product innovation and to ensuring that the Exchange remains relevant to Botswana’s productive sectors.
The local bourse also plans to launch an online trading platform that will expand retail investor participation by improving accessibility for both local and international investors. The implementation of a single Central Securities Depository will also enhance settlement efficiency, reduce fragmentation, and strengthen post-trade infrastructure as market activity grows.
“The initiatives ahead in 2026 represent the next phase of our journey toward scale, relevance, and impact,” Monyatsi added.