The local bourse, Botswana Stock Exchange (BSE) has officially adopted the world class Opening Bell ceremony by creating awareness on the stock market activities.
The standard practice is expected to bring vibrancy to the capital markets, all in the journey to become a world class Exchange.
Speaking at the ceremony on Friday, Minister of Minister of Finance and Economic Development kenneth Matambo said the new Opening Bell ceremony will also serve as a platform to generate exposure for listed companies, make news announcements or celebrate corporate and national milestones.
“This will also be used to champion causes that are of critical importance to the economy and welfare of Batswana,” said Matambo.
He stated that in the future the ceremony will involve dignitaries from different sectors, representatives of listed companies, ordinary Batswana, whether they have invested in BSE listed securities or not, as well as the heroes and heroines who continue to make Botswana proud.
Matambo added that in some instances, Opening Bell Ceremonies will be followed by interviews on topical issues to promote dialogue.
“BSE is on the right track by developing the market ever so diligently and creating awareness on the activities of the exchange,” he said.
He further said the ceremony marked the official launch of what is expected to be a regular ceremony at the BSE going forward. He observed that in the last few years the BSE has made progress in terms of positioning itself as an important vehicle for issuers and investors. He commended initiatives such as the Annual Listings and Investment Conference through which the BSE educates companies about growth prospects that can be achieved through the stock market.
For his part BSE Chief Executive Thapelo Tsheole said that the history of the opening bell started around the 1900s when trading of securities happened in physical floors. He added that most stock exchanges do the opening bell and closing bell at the opening and closing of the market respectively. He is of the view that it symbolized the opening of the market and also to officially welcome a company that is trading for the first time.
“We also want to give dignitaries visiting the stock market the opportunity to ring the bell as well as to raise awareness on issues that relate to the economy and the welfare of people,” said Tsheole.
He stated that the objective of the opening bell is to bring awareness to capital markets and also to bring vibrancy and energy to the stock market as well as to make the stock market accessible to the people.
Meanwhile Tsheole stated that on the 30th May BSE had a record trade of P286 Million in one day.