Botswana Stock Exchange has fully demutualized following its conversion from a mutual exchange to a public company.
Speaking to the media this week, Thapelo Tsheole, Botswana Stock Exchange Chief Executive Officer said the pace of stock exchanges’ demutualization across the globe has been rapid in developed markets and slower in emerging markets.
“On our part, the pace of demutualization has been exceptional and without hurdles, and BSE Limited now joins an elite league of stock exchanges as it is the seventh among twenty-eight stock exchanges in Africa to have undergone demutualization,” said Tsheole.
He said the demutualization and immediate corporatization of the Exchange brings forth enormous efficiencies that will enable the bourse to discharge its mandate and drive value for shareholders and stakeholders.
“We strive to become a world class securities exchange,” confirmed Tsheole.
Tsheole also highlighted that the development will significantly energize the capital market in Botswana, and the continent at large.
The demutualization of the BSE began on Dec. 1, 2015, when the BSE Transition Act, No. 2 of 2015 came into operation.