International companies want to be able to sell shares in Botswana, Tsheole says from Gaborone. GDRs, which are designed to let investors buy shares of foreign companies on their own domestic exchanges, will be available by mid-2022, he says, and it will be possible to trade short-term debt instruments by the end of this year.
The exchange has come under pressure from Botswana’s finance ministry, its majority owner, to accelerate new listings and halt the trend of companies leaving the bourse. Finance ministry permanent secretary Wilfred Mandlebe said in February that it was up to the exchange to ensure there was a “balance between the costs and benefits of listing”.
- The market must reduce the time needed to settle share transactions, he adds.
- Mandlebe points to the need for integrated depository to facilitate corporate and government bond trading. Government bonds are currently traded
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