GABORONE, (The Southern African Times) – Botswana has bemoaned perennial delisting of companies from the country’s stock exchange over the past years.
“There has been a worrying trend of companies delisting, which is the opposite of what we need. I therefore expect the Botswana Stock Exchange(BSE) to continue monitoring the situation with a view to ensuring that there is a balance between the costs and benefits of listing for companies on the local stock exchange,” said Wilfred Mandlebe, Permanent Secretary in the Ministry of Finance and Development Planning on Tuesday.
Mandlebe however acknowledged that BSE needs further attention to improve the functioning of the stock market. In addition, he had implored BSE to improve market efficiency by reducing time taken to settle share transactions.
Mandlebe said the government continues to review relevant pieces of legislation to promote the development of the stock exchange and provision of tax incentives to encourage companies to go public and investors to buy listed shares on the stock exchange.
“The ministry remains open to suggestions as to how the regulatory and legal environment can be improved, and looks forward to a continued constructive dialogue with the BSE and other institutions involved,” said Mandlebe.
Meanwhile, BSE initiated several efforts to improve awareness and encourage share ownership and trading.