from ODIRILE TOTENG in Gaborone, Botswana
GABORONE, (CAJ News) – THE Botswana Stock Exchange (BSE) has recorded its highest turnover in a single day, at more than P1, 072 billion (US$94,8 million).
The milestone reached on Monday is attributed to Access Bank’s 78,15 percent acquisition of BancABC Botswana.
Access is one of Africa’s leading full-service commercial banks.
“We are delighted to welcome Access Bank to the local bourse,” Thapelo Tsheole, the BSE Chief Officer, said.
“This transaction has reinvigorated the market as performance has been subdued due to the negative effects of the COVID19 pandemic.”
Listed on the Nigerian Stock Exchange since 1998, Access Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise and proven risk management and capital management capabilities.
Current and prospective investors of BancABC Botswana will be looking at this acquisition with great optimism as the bank will look towards leveraging off Access Bank’s vast network and digital banking capabilities.
Further, this transaction represents a great achievement for the BSE in being able to facilitate large trades in line with our current strategy to increase the average daily turnover levels to P18 million per day by the end of 2021.
This single trade joins other previous trade records including P494,3 million that was recorded in 2016, P484,6 million in 2017 and P458,6 million in 2018.
– CAJ News