Never in my history of stock watching have I seen stock fall at the rate at which BTCL shares are falling. The investors will soon come to realise that they bought junk stock (no scholarly definition exist for this word), but the write up will demonstrate that BTCL is one and hence we will coin a definition. He he he. Having peaked to P1.34 and now back below the trench to P0.91, this is now a bad situation which needs a quick policy change by those responsible. By that, I’m looking at Government.
The sale of BTCL shares as we are all aware was limited to anything that is “citizen of Botswana” because it was seen as empowering citizens, but just like all programmes worldwide that ever tries to achieve that, we know the outcome is always the reverse. We just have to look next door to Zimbabwe and South Africa, I know Namibia is joining the lot. The major difference here is that we are talking about the stock market, it has its own set of rules and they are simple, “let there be fair trading.” Any alternative to distort open and fair trading will always have consequences. The exchange is led by men and women of high calibre, but when we make rules that hinder them from running a great show, because of bureaucracy that comes with shareholding decisions, then you are bound to get this decline.
