BSE biggest movers

BTCL emerges as the weekly top gainer

Author

Boago Sephutho
November 17, 2025

Good morning, let’s get into it!

If you’re watching the Botswana Stock Exchange (BSE) right now, one thing is clear: 2024–2025 has been a year of quiet winners—steady companies that executed well while others struggled.

Below is a breakdown from the highest yearly return to the lowest, based on the data in your screenshots, plus a look at the weekly performance leader.

1. Choppies (CHOP-EQO) — +36.5%

Choppies takes the top spot as this year’s strongest performer.

Why it gained:

  • Retail demand has remained strong with increased customer activity.

  • The company’s restructuring efforts and operational recovery are paying off.

  • Improved investor confidence after years of instability.

2. Standard Chartered Bank Botswana (SCBB-EQO) — +24.1%

A strong banking performer with reliable growth.

Why it gained:

  • Higher interest rates have boosted bank margins.

  • Lower loan impairments support cleaner balance sheets.

  • Foreign investor confidence is spilling over to local operations.

3. CA Sales Holdings (CAS-EQO) — +22.0%

CAS remains one of Botswana’s most dependable compounders.

Why it gained:

  • Strong FMCG distribution across Southern Africa.

  • Benefiting from regional consumer demand.

  • Consistent earnings growth.

4. Sefalana (SEF-EQO) — +16.7%

A diversified business with retail, distribution, and manufacturing operations.

Why it gained:

  • Strong regional expansion strategy.

  • Consistent dividends.

  • Stability in core retail performance.

5. Sechaba Brewery Holdings (SECH-EQO) — +15.6%

A defensive and reliable stock.

Why it gained:

  • Alcohol sales remain stable and resilient.

  • Strong partnerships with global beverage brands.

  • Continued recovery after pandemic restrictions.

6. Botswana Telecom (BTCL-EQO) — +14.2%

Telecom stocks remain foundational in a digital economy.

Why it gained:

  • Rising mobile data consumption.

  • Infrastructure investment is translating into steady results.

  • A consistent dividend payer.

7. Absa Bank Botswana (ABBL-EQO) — +9.6%

A reliable performer in the banking sector.

Why it gained:

  • Improved digital banking penetration.

  • Cost control and stable earnings.

  • Better asset quality.

8. First National Bank Botswana (FNBB-EQO) — +9.4%

One of the most efficient banks in the region.

Why it gained:

  • Strong digital channels and customer growth.

  • High return on equity.

  • Steady financial performance.

9. Turnstar Holdings (TURN-EQO) — +7.6%

Real estate with diversified geographical exposure.

Why it gained:

  • Improved retail property activity.

  • Stabilised performance in Botswana, Tanzania, and Dubai.

  • Consistent rental income.

10. Chobe Holdings (CHOB-EQO) — +7.4%

Tourism continues to bounce back strongly.

Why it gained:

  • International tourist arrivals are recovering.

  • Botswana’s safari industry remains premium.

  • Weak pula boosts foreign visitor spending.

11. Engen Botswana (ENG-EQO) — +5.7%

A steady performer in the fuel and logistics sector.

Why it gained:

  • Higher fuel demand from mining and transport.

  • Strong retail forecourt operations.

  • Stable regional energy demand.

12. Botswana Insurance Holdings (BIHL-EQO) — +4.6%

A defensive insurance and asset management company.

Why it gained:

  • Strength from Bifm’s asset management operations.

  • Stable life insurance and pension contributions.

  • Consistent dividend profile.

13. Letlole La Rona (LLR-EQO) — +3.4%

An income-focused property stock.

Why it gained:

  • Strong occupancy rates.

  • Focus on industrial and commercial property.

  • Predictable rental yields.

14. New African Properties (NAP-EQO) — +1.5%

A slow but steady REIT on the BSE.

Why it gained:

  • Solid occupancy levels.

  • Reliable dividend income.

  • Limited capital growth this year.

15. Seed Co International (SEED-EQO) — 0%

Flat performance for the year.

Reason:

  • Agricultural output depends heavily on rainfall and regional planting activity.

  • Mixed weather patterns may have affected investor expectations.

16. Access Bank Botswana (ACC-EQO) — 0%

The bank is still stabilising after rebranding.

Reason:

  • The market is still waiting for strong post-merger momentum.

  • No significant catalysts this year.

17. Far Property (FPC-EQO) — 0%

A muted year for this real-estate-focused company.

Reason:

  • Retail and commercial property recovery is slow.

  • Investors are waiting for stronger earnings signals.

18. Primetime Property (PTPH-EQO) — 0%

Another income-focused property stock with flat performance.

Reason:

  • Rental pressure from COVID-era effects still lingers.

  • The market is cautious until improvements show.

19. Letshego (LETS-EQO) — –17.4%

The worst performer in the dataset.

Why it fell:

  • Rising impairments in unsecured lending.

  • Slower growth across key markets.

  • Global pressure on microfinance institutions.

Weekly Top Gainer: BTCL (+2.5% this week)

Why BTCL gained this week:

  • Possible anticipation of a dividend or earnings update.

  • Increased trading activity from retail investors.

  • Continued investor interest in telecom as a stable sector.

Source: simplywallst