BSE turnover down
The continued suspension of Choppies from trading its shares on the Botswana Stock Exchange Limited (BSEL) together with the delisting of Wilderness Safaris and Furnmart have contributed to reduced levels of turnover at the stock market.
This is according to the BSE market report for 2019.
During the year, turnover levels at the stock market went down by 2.8 percent, dropping from P4.4 billion to 4.2 billion.
The suspension of Choppies – implemented in November 2018 – as well as the delisting of the other two companies are said to be major contributing factors to the slight decline.
These three entities reportedly contributed significantly to the market in prior years due to their sizes and contribution to diversity of sectors on the exchange.
Their departure and suspension have dealt a heavy blow to the stock market and have in addition negatively impacted domestic market capitalization, which has reduced by P3.7 billion to P38.7 billion from P42.4 billion recorded in 2018.