from ODIRILE TOTENG in Gaborone, Botswana
GABORONE, (CAJ News) – THE Botswana Stock Exchange (BSE) is bearing the brunt of the country’s economic decline linked to the coronavirus (COVID-19) pandemic.
During the period January 1 to August 31, the Domestic Company Index (DCI) depreciated by 2 percent in comparison to a decrease of 5,9 percent during the same period in 2020.
The Domestic Company Total Return Index (DCTRI) appreciated by 1,6 percent in comparison to a decrease of 2,4 percent in the corresponding 2020 period.
The Foreign Company Index (FCI) appreciated by 0,1 percent on a year to date basis in 2021 compared to a decline of 0,8 percent over the same period in 2020.
As at the end of August 2021, a total equity turnover of P405,1 million (US$36,9 million) was recorded from traded volumes of 280,5 million shares compared to P483,3 million recorded from 274,3 million shares in 2020.
The market capitalisation of listed bonds stood at P22,4 billion.
The International Monetary Fund (IMF) projects the Botswana economy to grow by 7,5 percent in 2021.
The Southern African country was one of the world’s poorest countries at independence in 1966 but rapidly became one of the world’s development successes.
President Mokgweetsi Keabetswe Masisi’s government has been urged to diversify Botswana’s economy from an over-reliance on diamond mining.
– CAJ News