The Botswana Stock Exchange (BSE) has announced that they have been admitted into World Federation of Exchanges as an Affiliate Exchange. The BSE’s application to WFE was part of its internationalisation strategy that aims to position the BSE as one of the leading Stock Exchanges in Africa.
With 100 members, WFE is the highest international body in the securities market, governing all the aspects of securities transactions from the technical, commercial, legal and economic views. Membership in WFE makes it possible for the BSE to adjust their indices with those of other stock markets.
According to BSE Chief Executive Officer Thapelo Tsheole, the BSE is an important institution in promoting the creation and flow of investment capital in Botswana. He also expressed gratitude for being accepted as an Affiliate Exchange of the WFE.
“This relationship with the WFE is a cornerstone of the BSE’s vision of becoming the leading Exchange in Africa. It is in our best interest to align with international best practice in the global securities and exchange industry and adapt to the evolving and fast changing global investment environment. Our affiliation with the WFE will help us promote the integrity of the domestic capital market and align our capital market standards with international best practice,” he said.
Tsheole also said as the BSE, they intend to utilise this affiiliation with the WFE to position the local bourse as the ideal investment destination “leveraging on Botswana’s competitive advantages and to lure global fund managers and sovereign wealth funds with frontier and emerging market investment strategies.”
The press statement also stated that “BSE’s status as an Affiliate Exchange of the WFE initiates an interactive informational connection between the BSE and the WFE. Through this affiliation, the BSE will benefit from participation in the WFE workshops, events, annual meetings, research, capital markets statistics and studies that provide useful support to the BSE’s development.”