- 5m recorded from P407.8m in prior period
- Property entities Letlole, Far Property, RDC Properties top trading
- CA Sales, Chobe and Cresta emerge top gainers
For the period 1st January 2023 to 31 March 2023, trading activity on the Botswana Stock Exchange (BSE) amounted to P273.5 million in comparison to P407.8 million in the corresponding period in 2022, revealing a significant reduction in equity turnover.
Detailing this in a market performance report for the period under review, BSE says although lower than the amount recorded in 2022, current year-to-date turnover levels are above the 2020 (P185.0m) and 2021 (P113.7m) levels.
Similarly, the Average Daily Turnover (ADT) recorded in 2023 though lower than that in 2022 is significantly higher than in 2020 and 2021. The top three traded companies during the period under review were property management companies, Letlole La Rona (P109.7m), Far Property Company (P25.9m), and RDC Properties (P24.9m).
“The total turnover from these three companies accounted for 58.6 percent of total equity turnover with the leading counter, Letlole La Rona, accounting for 40.1 percent of total equity turnover,” says the BSE According to the bourse, compared to the same period in 2022, the top three traded companies accounted for 85.9 percent of total equity turnover with the leading counter, Letshego, accounting for 62.4 percent (P254.6m) of total equity turnover.
The top three gainers in share price performance for the period under review were CA Sales with a 19.7 percent growth in share price, followed by Chobe and Cresta with gains of 17.2 percent and 15.8 percent respectively. “Of the 31 listed companies, including BBS on the Serala OTC Board, three depreciated in share price, 16 appreciated in share price while 12 experienced no share price change,” says the report.
Meanwhile, in investor contribution to equity turnover, local companies contributed 72.5 percent to total equity turnover or P198.3 million in monetary terms whie local individuals contributed 4.0 percent during this period or P11.0 million in monetary terms. Foreign companies contributed 23.0 percent or P63.0 million to total equity turnover while foreign individuals and brokers contributed 0.4 percent (P1.2mi) and 0.0 percent (P0.03m) to equity turnover respectively.