The Chief Executive Officer of the Botswana Stock Exchange (BSE) revealed the tradition of ringing the bell at stock exchanges started around the 1900’s when trading of securities happened in physical floors and that most stock exchanges do the opening bell and closing bell at the opening and closing of the market respectively.
He expressed belief that given the milestones achieved by the BSE, it appeared appropriate to follow international best practice. The exercise would also have significant symbolic value, stakeholders were told Friday.
“It symbolizes the opening of the market and also to officially welcome a company that is trading for the first time,” said Thapelo Tsheole, Chief executive Officer for the Botswana Stock Exchange (BSE).
He said, “The objective of the opening bell ceremony for the BSE was to bring awareness to capital markets, bring vibrancy and energy to stock market, make stock market accessible to people and to raise awareness on issues related to economy and welfare of people.”
Reflecting on BSE milestones earlier this year, Tsheole punted the Listings and Investment Conference in March which attracted 400 delegates, launching the sustainability report, BSE Open Days held in Jwaneng, Kanye, Mahalapye and recently in Tsabong and hosting Africa Middle East Depositories Association (AMEDA) on the 10th -13th April, 2018 at Cresta Mowana Safari Lodge in Kasane where representatives from 20 countries attended.
He also celebrated the launch of a BSE Publication and trading P286 million in one day on the 30th May 2018.
He further indicated that in 2019 Botswana, and the BSE will to host the African Securities Exchanges Association (ASEA) in November, where over 300 delegates from all over Africa and the world will attend.
Speaking at the event the Minister of Finance and Economic Development Planning Kenneth Matambo maintained that in the last few years the BSE has made progress in terms of positioning itself as an important vehicle for issuers and investors. In particular he highlighted the Annual Listings and Investment Conference through which the BSE educates companies about growth prospects that can be achieved through the stock market.
“Just last week the BSE team hosted an open day in Tsabong. These open days that the BSE has been hosting in various parts of the country have been instrumental in educating even ordinary Batswana about investing in BSE listed securities. I am informed that already in 2018, the BSE has hosted open days in Jwaneng, Kanye and Mahalapye,” said Matambo, Minister of Finance and Economic Development.
He said, “In the future, the Ceremony will involve dignitaries from different sectors, representatives of listed companies, ordinary Batswana, whether they have invested in BSE listed securities or not, as well as our heroes and heroines who continue to make Botswana proud.”
