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Botswana’s Biggest Stock Winners and Losers This Year

BBS Bank has emerged as the top-performing stock on the Botswana Stock Exchange (BSE) over the past year, up 40% in annual returns. The bank’s rally reflects rising investor confidence following its transformation from a building society into a fully licensed commercial bank. This shift opened new income streams in retail and corporate banking, signaling future profitability.

The market’s optimism is also tied to BBS’s strong brand equity and its move toward digital banking services, which positions it well in an increasingly tech-driven financial landscape. Investors see the bank as a long-term value play as it continues to expand lending and improve governance frameworks.

Close behind are Choppies Enterprises (+36.5%) and Botswana Telecommunications Corporation (BTCL) (+9.4%), both showing resilience in competitive industries. Choppies’ turnaround strategy — including store optimization and improved cost control — has boosted margins. Meanwhile, BTCL continues to benefit from rising data consumption and national connectivity investments.

On the other end, Letshego Holdings stands out for the wrong reasons — down 17.4% year-on-year. Once a retail finance favorite, Letshego’s decline comes amid declining profits and rising non-performing loans across several regional markets. Its core micro-lending business has been under pressure due to regulatory tightening and economic headwinds in key African markets, including Namibia and Kenya.

Despite efforts to digitalize operations and improve customer access through mobile platforms, investors remain cautious about the group’s execution and growth trajectory. Until Letshego demonstrates stronger earnings recovery, sentiment is likely to remain weak.

In summary, the financial sector led gains, with traditional banks regaining investor trust and stability, while consumer lenders like Letshego faced the consequences of overextension and risk exposure.

Source: simplywallst