Good morning, let’s get into it!
As we move into mid-March, the Botswana Stock Exchange (BSE) continues to navigate a complex macroeconomic environment. While global diamond demand remains a headwind for the broader economy, specific local players have demonstrated remarkable resilience and growth over the past year.
In this week’s edition, we break down the yearly performance of the market's top movers and look at the standout performer of the last seven days.
Yearly Performance: The Leaders and the Laggards
The past 12 months have seen a divergence in fortune between the consumer-facing and telecommunications sectors. Here is how the top performers ranked by yearly return:
Company | Yearly Return | Performance Drivers |
Sechaba Brewery Holdings | +18.7% | The clear leader for the year, Sechaba benefited from stronger volumes in its underlying investments—Kgalagadi Breweries and Coca-Cola Beverages Botswana—thanks to a resurgence in domestic consumer demand. |
BTCL | +14.5% | A rare but strong year for the telecom giant. Performance was bolstered by a significant 55% surge in pretax profits, driven by a 20% cost reduction and growth in mobile financial services and data center cloud offerings. |
First National Bank Botswana (FNBB) | +10.4% | FNBB maintained its status as a reliable blue chip, benefiting from higher interest income and a stable banking environment despite the wider sovereign credit rating pressures. |
Standard Chartered Bank Botswana | +5.0% | While showing positive gains, StanChart trailed its peers. Its growth was moderate but steady, supported by its "Fit for Growth" efficiency program and record performance in wealth management solutions. |
Weekly Winner: First National Bank Botswana (FNBB)
While the yearly race was led by Sechaba, the last seven days belonged to First National Bank Botswana (FNBB).
Weekly Return: +3.7%
Closing Price: P5.65
Why the Jump?
The recent rally in FNBB’s stock is largely attributed to the bank's upcoming dividend payment. With the ex-dividend date set for March 18, 2026, investors have been moving into the stock to secure their share of the payout. The bank remains a favorite for income-seekers, especially as it maintains a high payout ratio (roughly 53%) and robust earnings of P1.4 billion.
Looking Ahead
As we look toward the end of the first quarter, all eyes will be on Choppies Enterprises, which is expected to release its half-year results around March 27. Despite a difficult 2025 for the retailer, market watchers are keen to see if their cost-discipline measures will begin to reflect in the bottom line.
source: simplywallst
