BSE Holds Trillion-Pula Mark

Foreign-listed companies kept the Exchange above P1 trillion in value, even as six-month turnover fell by 65.2 percent. The Botswana Stock Exchange (BSE) maintained total market capitalisation above P1 trillion during the first six months of 2026, even as trading activity slowed sharply from the exceptionally high levels recorded in 2025. According to the Market Performance Report covering 1 January to 30 June 2026, the Exchange closed the period with total market capitalisation of P1.06 trillion.

Equities accounted for 92.3 percent of market value, while bonds and exchange-traded funds (ETFs) contributed the remaining 7.7 percent. “The Exchange maintained total market capitalization above the P1 Trillion mark, closing at P1.06 Trillion,” the report states. The report said the period demonstrated the resilience of the Exchange despite the slowdown in trading.

It also coincided with early signs of economic recovery, with real gross domestic product expanding by 3.5 percent year-on-year in the first quarter of 2026 after a prolonged contraction, supported in part by improving conditions in the diamond sector. Total equity market capitalisation increased from P619.5 billion in 2025 to P974.6 billion in 2026, representing growth of about 57.3 percent year-on-year. Foreign-domiciled companies accounted for most of the increase, with their market capitalisation rising by 62.2 percent from P563.6 billion to P914.2 billion.

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The domestic market remained broadly unchanged at P60.4 billion, although it rose by P66.8 million, or 0.1 percent, during June. Month-on-month movement in June was limited. Foreign market capitalisation increased by only P29.8 million, consistent with Anglo American’s unchanged share price during the month.

Equity turnover for the six months to 30 June totalled P1.64 billion, compared with P4.73 billion during the same period in 2025, a decline of 65.2 percent. Average daily turnover fell to P13.5 million from P38.7 million, while trading volumes declined by 70.9 percent to 328.7 million shares from 1.13 billion shares.

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