Mmegi

Banks lead BSE’s charge

In the lead: Standard Chartered Bank Botswana CEO, Mpho Masupe. The bank is currently leading the BSE in terms of share price gains this year
In the lead: Standard Chartered Bank Botswana CEO, Mpho Masupe. The bank is currently leading the BSE in terms of share price gains this year

The country’s listed commercial banks are amongst the biggest gainers on the Botswana Stock Exchange (BSE) thus far this year, led by Standard Chartered Bank Botswana, whose share price had risen by 32.3% as at the end of November.

The country’s oldest commercial bank has this year continued the robust performance seen in 2023 when its share price jumped 85%, second only to leisure tourism group Chobe Holdings, whose share price jumped nearly 88%. This year,

Stanchart’s chart-topping performance is followed by First National Bank Botswana with a gain of 16.3% in its share price as at November, whilst the other listed bank, Absa Bank Botswana, enjoyed an 8.8 percent increase in share price over the same period. BIHL, the country’s largest and most diversified financial sector group, gained 10% over the period, cementing the fact that financial sector players have been driving the Exchange thus far this year. Other counters leading the BSE in the year to November 30, included Chobe, which was up 16.9%, Choppies, up 8.3 percent and Engen, up 7.5 percent.

Analysts have said the strong performance in equities last year and into this year, has been helped by the repatriation of pension fund assets as part of legislative changes steered by the Non-Bank Financial Institutions Regulatory Authority.

Analysts say the move has increased the liquidity of the local capital market, with asset managers scrambling for the limited investable assets such as shares, leading to higher prices.
Editor's Comment
Refrain from risky behaviours

After long spells of dryness and high temperatures, it is important to celebrate the torrential rains with caution and reasonableness especially when all indications suggest that the rains are not going to stop anytime soon, especially in the northern parts of the country.We want to encourage both the young and the old to refrain from any risky behaviour during this rainy season.Batswana need to be on red alert and not take chances during the...

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