BSE biggest movers

Good morning, let’s get into it!

As we step into 2026, the Botswana Stock Exchange (BSE) has delivered a mix of dramatic turnarounds and cautionary tales. From retail giants clawing back to pre-crisis levels to security firms facing structural headwinds, here is your breakdown of the market’s biggest movers.

Yearly Leaders: The Comeback Kings

The past 12 months have been defined by recovery and resilience in the domestic market.

• Choppies Enterprises (CHOP-EQO) | +246.2%

  Choppies is the undisputed star of the year. After years of audit scandals and boardroom battles, the retailer has achieved a massive turnaround. The primary drivers include a return to profitability across its Botswana, Namibia, and Zambia segments, and the strategic exit from its loss-making Zimbabwe unit. Investors have reacted positively to its "Value and Convenience" strategy and improved retail footfall.

• BBS Bank (BBS-EQO) | +40.0%

  The indigenous lender has enjoyed a stellar year, ranking among the top performers. The growth is largely attributed to its transition into a full commercial bank and successful efforts to diversify its mortgage book into rural areas, signaling increased market confidence in its new banking model.

• BTCL (BTCL-EQO) | +26.4%

  Botswana Telecommunications Corporation has rewarded shareholders not just with price growth, but with consistent dividends. Strong interim results and the appointment of new leadership (CEO Jurgen Peschel) have bolstered sentiment around the telco's digital transformation journey.

• Standard Chartered Bank (SCBB-EQO) | +24.8%

  Standard Chartered continues to benefit from a high-interest-rate environment and strong corporate banking performance, leading to a healthy 24.8% climb over the year.

Yearly Laggards: Challenges in the Service Sector

Not all sectors shared in the 2025 rally, with one notable name seeing a significant retreat.

• G4S Botswana (G4S-EQO) | -62.9%

  G4S has had a difficult year, described by analysts as a "falling knife." The company has struggled with citizen-preferential procurement rules, which have limited its ability to participate in key government contracts. Combined with rising inflationary costs and aggressive competition in the alarm systems market, the firm reported its third consecutive annual loss, leading to a sharp sell-off.

Weekly Winners: Short-Term Spark

While most stocks remained flat over the last seven days, two companies managed to break the silence:

1. Choppies Enterprises (CHOP-EQO) | +14.6%

   Choppies continued its momentum into the final week of the year. This late surge is likely due to strong festive season trading expectations and the market processing its recently published audited results, which confirmed the group's successful debt reduction and return to EBITDA profitability.

2. RDC Properties (RDCP-EQU) | +2.0%

   RDC saw a modest weekly gain. Property stocks often see late-year movement as investors position themselves for rental income distributions and year-end property portfolio revaluations.

Summary Table: Performance at a Glance

Source: simplywallst