Good morning, let’s get into it!
As we move through late February 2026, the Botswana Stock Exchange (BSE) continues to be a game of two halves. While some companies are enjoying massive yearly recoveries, the last seven days have seen a sharp "reality check" for one of the market's biggest names.
The Leaderboard: Yearly Returns vs. Weekly Reality
Company | Yearly Return | Weekly Return | The "Why" Behind the Move |
Choppies | +200.0% | -11.1% | Yearly: A massive recovery rally from a low base after operational restructuring. Weekly: A sharp "correction" as the stock fell from P1.80 to P1.60. After such a parabolic run in 2025, profit-taking and volatility have returned. |
BBS Bank | +40.0% | 0.0% | Steady after its commercial banking transition. Investors are holding firm as they wait for the next set of full-year results. |
BTCL | +37.7% | +20.7% | The clear weekly winner. Investors are piling in following news of a 30% profit jump and successful copper-to-fiber infrastructure upgrades. |
Stanchart | +24.8% | +0.4% | Defensive strength. High ROE and consistent dividend payouts keep it stable despite broader market noise. |
Sechaba | +18.7% | +1.1% | "Sin stocks" remain resilient; robust beer demand and high yields continue to attract income seekers. |
CA Sales | +17.9% | +6.8% | Momentum is building on the back of strong regional FMCG distribution growth across Southern Africa. |
The Choppies "Whip-Saw"
While Choppies remains the top yearly performer on the board, the 11.1% drop this week (falling to P1.60) is a reminder of its high volatility. Analysts point to a "thin free float"—where a few large shareholders control the majority of the stock—meaning even small trades by retail investors can cause double-digit price swings.
The Bottom Performers: Under Pressure
Letshego Africa Holdings (-3.2%): Fundamental recovery is happening, but the stock price hasn't mirrored the 919% profit jump yet, likely due to lingering regional macro-concerns.
G4S Botswana (-62.9%): Still the year's deepest laggard. The company is battling a "triple threat" of high statutory wage hikes, inflation, and intense competition from citizen-owned security firms.
Weekly Momentum Watch
The star of the week is BTCL (+20.7%), which is finally seeing the market price in its operational efficiency gains. However, the takeaway is clear: watch the Choppies volatility closely. A 200% gain is great, but a 11% weekly drop shows how quickly the tide can turn in a thinly traded market
Source: simplywallst
