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      Tumisang Orebonye: Overcoming Against Adversity to Reach for the Stars

      ‘Winning The CAF Super Cup Is A Dream Come True’ – Orebonye

      BAA Needs Over P3m For World Champs

      Botswana’s Sporting Future in Jeopardy: School Sports Suspension Threatens Athletic Excellence

      No House For Tebogo Despite Astral Performance in Budapest

      “No Pressure for Tebogo at Diamond League Finals”

      BOKA Aims to Host Two Prestigious International Karate Competitions

      BOKA Aims to Host Two Prestigious International Karate Competitions

      FM Botswana 2022 conference: transformation towards a greener FM 

      StanChart CEO Underscores Role of UB Marathon in Boosting Botswana’s Sports Tourism

      No House For Tebogo Despite Astral Performance in Budapest

      No House For Tebogo Despite Astral Performance in Budapest

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      Removal of restrictions on BTC shares is long overdue – Tsheole

      The BSE strongly believes that the share price of BTC will remain flat because there is not much demand for them even if BTC makes a profit.

      mm by Kitso Dickson
      May 30, 2022
      in Companies & Markets
      Reading Time: 2 mins read
      0
      Equity turnover up by 257.8 % on the BSE

      BSE CEO Thapelo Tsheole

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      • Says share price would grow because of increased demand
      • Notes restrictions serve a purpose at IPO stage

      The Botswana Stock Exchange says it has advised the government to remove restrictions on Botswana Telecommunication Limited (BTC) shares for the reason that they inhibit growth of the share price because of the same thinking.

      “The share price will never grow, there is no diversity in terms of the views,” the CEO of the BSE, Thapelo Tsheole said this week at the launch of the BSE’s 2022-2026 strategy. “The government wrote back to say it was a cabinet decision and they will look into it,” he told journalists. “When we say a market, we mean a place where diverse people with diverse views can actually come into play.”

      The BSE strongly believes that the share price of BTC will remain flat because there is not much demand for them even if BTC makes a profit. No matter the amount of the profit, Tsheole noted, the thinking is still the same. In the CEO’s expert view, it is good to impose restrictions only at the IPO level; post-IPO and after several years, the incentive evaporates. Infact, the longer this goes on, the greater the suppression of the share price.

      Tsheole’s greatest fear is that if another telecommunications company entered the market while Batswana are still holding BTC shares, the share price would go down. “So what we were proposing to government is that we need diversity in terms of views or opinions towards BTC,” he said. “They need to relax it to remove foreign restrictions. This is based on evidence across many markets where initially shares are limited to citizens and then over a period of time that restriction is removed.”

      Removing the restrictions would actually benefit Batswana who own BTC shares because demand for the shares would grow and lead to growth in the share price, says Tsheole. Government can still remain with 51 percent but the BSE argues that for the 49 percent, they should let the market determine the dynamics so that “you get an efficient price discovery,” Tsheole said. “We don’t know whether it will be up or down but what I want you to know is that it would be more liquid like other telco shares.”

       

      Tags: Botswana Stock ExchangeBotswana Telecommunication Limited (BTC)Thapelo Tsheole

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