NBFIRA Not Powerful Enough Study

This was after a study they conducted found that there is an opportunity for expropriation and breach of corporate governance standards by listed companies in Botswana. The study titled ‘Ordinary Shareholders’ Rights Protection in Botswana’ dated March 2020 was conducted by Kelesego Mmolainyane, a research fellow at BIDPA and Ratang Sedimo, who is an attaché.

The Choppies Group was used as the case study following its suspension from the Botswana Stock Exchange (BSE). According to the study, the retail giant failed to comply with corporate governance standards. “Delisting statute within the BSE Listing Requirements states that if a company has been suspended and does not rectify its transgression to comply within six months of suspension, then the Listings and Trading sub-committee can take action to de-list the firm.