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The Botswana Stock Exchange (BSE) experienced a year of dramatic shifts, with some counters delivering astronomical returns while others struggled against operational headwinds. From retail giants finding their footing to security firms facing deep losses, here is the breakdown of the yearly returns for the key players on the local bourse.

Choppies stands as the undisputed champion of the year. The retail giant’s massive 260% gain was fueled by a successful restructuring strategy and a sharpened focus on its core Botswana market after exiting South Africa. Improved profitability, a 15% surge in revenue to P9.2 billion, and the declaration of dividends restored investor confidence in the brand's long-term resilience.

Taking the second spot is BBS Bank, which saw its share price appreciate by 40%. The primary driver behind this growth was the bank’s continued transition toward full commercialization. Investors have been buoyed by the "indigenous bank" narrative and a return to profitability (P49.9 million), signaling that the building society's evolution into a commercial entity is gaining tangible traction.

The nation’s leading telecommunications provider enjoyed a 37.7% gain this year. The catalyst was a robust financial outlook, with BTCL forecasting a significant surge in profit before tax (up to 37% increase). High demand for data services and broadband—anchoring a 57% jump in profit after tax—made the stock a favorite for retail and institutional investors alike.

Standard Chartered maintained its reputation as a stable "blue chip" with a 24.8% return. The bank’s performance was underpinned by a flawless balance sheet and a massive dividend yield of over 12%. Consistent earnings growth and a proven track record in the local financial sector kept buy-side interest high throughout the year.

The beverage giant posted a respectable 18.7% gain. This growth was largely driven by the enhanced performance of its associate companies (Kgalagadi Breweries Limited). With profit before tax expected to rise by up to 15%, Sechaba remains a cornerstone for investors seeking consistent dividends and exposure to the consumer goods sector.

Rounding out the positive performers, CA Sales saw a 17.9% increase. The group benefited from improved trading conditions post-restrictions and the onboarding of new clients. A 20% increase in revenue and a strong 46% jump in headline earnings per share proved that their diversified geographical footprint is a winning formula.

At the opposite end of the spectrum, G4S Botswana saw a staggering 62.9% decline in value. The security firm was hit by a "perfect storm" of challenges: a 23.5% statutory wage hike that squeezed margins, significant losses in the first half of the year (P8.1 million), and internal control weaknesses that led to late financial filings. Customer attrition in the Electronic Security segment further weighed down the share price, leaving the company trading below its book value.

Source: simplywallst