BSE freezes trading of 750m shares

BSE CEO Thapelo Tsheole
BSE CEO Thapelo Tsheole

The Botswana Stock Exchange (BSE) has frozen the trading of over 750 million shares, which have not been converted from paper securities certificates to electronic form under the Central Securities Depository (CSD).

 The CSD was introduced in 2008 as a computer system that facilitates the holding of securities in electronic accounts in contrast to paper certificates that the exchange had been using. 

Deadline for dematerialisation of shares was March 31, 2016 and the BSE says all the shares that have not been transferred to the CSD have now been placed into a dormant account where they cannot be traded.

Editor's Comment
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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