07 Oct 2024

The Botswana Stock Exchange (BSE) celebrated the graduation of 19 companies from its Tshipidi Mentorship Programme during a ceremony held in Gaborone recently.

In her remarks, Ms Lekono Phiri, a board member of the BSE, emphasised the importance of corporatisation as a fundamental step in preparing a company for listing. She explained that this process transitions private entities into corporate bodies that uphold the governance and transparency standards expected of publicly listed companies.

The transformation is crucial for any company looking to scale up and attract investors, Ms Phiri said. She acknowledged that the journey towards successful corporatisation was challenging, requiring companies to adopt robust corporate governance practices, streamline financial reporting, and ensure compliance with listing requirements.

Although these processes may seem daunting, they are essential for building a sustainable business capable of attracting capital and expanding operations in its sector,she added. Ms Phiri also praised the commitment of the mentees, highlighting their dedication to growth, innovation, and excellence.

"The knowledge and skills gained through the programme will benefit the companies, especially in their listing endeavours,” she noted.

The BSE envisions a vibrant and diverse market that reflects Botswana’s economic dynamism and aims to attract both local and international issuers, aspiring to establish the BSE as a regional financial hub.

One of the participating mentees, Ms Pedzani Tafa, representing Botswana Building Society, shared that the bank was set to begin its listing in November this year. She described how the mentorship training offered insight into real investment conversations and provided invaluable feedback from fund managers, preparing them for potential questions during investor pitches.

Ms Tafa encouraged her fellow mentees not to fear relinquishing some control of their companies, underscoring the importance of transparency throughout the process.

"Do not let fear hinder your vision to grow and realise more value through the listing process,” she advised, urging all participants to seize the opportunity for growth, regardless of whether they are a large or foreign entity.

Mr Kopano Bolokwe, Acting CEO of BSE, expressed aspirations for local companies to reach the heights of their counterparts on the Johannesburg Stock Exchange and the US Stock Market. The vision may seem unattainable until you embark on the journey as we have, he stated.

Concerning the recent listing of Rainbow Chicken in June this year on the Johannesburg Stock Exchange, Mr Bolokwe affirmed that enrolling in the Tshipidi Mentorship Programme was a significant step towards achieving long-held dreams of entering the public market.

In any endeavour, fear is the main barrier that delays or destroys vision,” he cautioned, emphasising the necessity of a mindset shift to take full advantage of the opportunities that arise. ENDS