BancABC sponsors BSE conference

SHARE   |   Monday, 07 March 2016   |   By Staff Writer

The decision by BancABC to sponsor the upcoming Inaugural Botswana Stock Exchange Listings Conference is mainly premised on the will to support the local business community, it has been said. The conference takes places next week Thursday and the bank has come on board as a Gold Sponsor, committing P100 000 towards it. BancABC, which itself delisted from the BSE a year ago following acquisition by Atlas Mara, is now supporting the cause to encourage companies to list on the stock exchange. A whole lot of local companies from small, medium and those considered large will next week converge at GICC for a full day session to hear from various people, mainly those whose companies are listed, about the importance of listing.

The conference’s objective is to attract companies to list on the stock exchange as there seem to be lack of interest from most companies to list and lack of knowledge on opportunities created by listing have been found to be among other reasons raised for those that are not listed. BancABC regional Head of Corporate and Investment Banking (CIB), Grace Setlhare-Mankanku, said the sponsorship is to show commitment towards servicing the Botswana business community through CIB portfolio. She said their aspiration is to bring their clients closer to their ambitions through accessible and agile financial solutions. It remains to be seen if the conference will have effect on the local companies’ attitude and change their perspective on listing as a vehicle for growth.

A considerable number of companies have left the local bourse in recent years under various circumstances while listing on the other hand does not match the rate at which companies delist as it seems slow. The most recent company to delist is the Funeral Service Group (FSG), but another listing is expected soon when Botswana Telecommunications Corporation Limited (BTCL) float its shares on BSE. BTCL listing follows that of Afinitas which occurred last year.