Foreign investors' appetite for BSE soars
Monday, October 28, 2019
Moribame says the Exchange's efforts are paying off
According to a Botswana Stock Exchange Limited (BSEL) report made available on Tuesday, foreign institutional investors’ contribution to total equity turnover between January and September 2019 was pegged at 42.2%, up from 35.5% the previous year.
The local bourse recorded total equity turnover of P1.2 billion in the year to September 30, 2019, a drop from P1.23 billion in the corresponding period last year.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...