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A performance analysis across the local bourse reveals starkly contrasting fortunes for listed firms over the past year. A wide disparity exists between explosive retail recoveries, steady financial performances, and heavy losses stemming from corporate restructuring and regional headwind adjustments.
Below is the breakdown of listed companies ranked from the highest yearly return to the lowest, alongside the core operational drivers behind their trajectories.
The Leaders: Retail and Telecom Trajectories
Choppies Enterprises (CHOP) | +172.7%
Last Price: P1.50
Why: Choppies dominates the leaderboards following an expansive operational turnaround, balance sheet cleaning, and restructuring. The retail giant successfully cleared massive historical consortium debts early in the cycle, which bolstered investor confidence despite navigating challenging macroeconomic spending collapses and Pula devaluations later in its operating year.
Botswana Telecommunications Corporation (BTCL) | +37.7%
Last Price: P1.46
Why: Driven by robust digital infrastructure expansion and accelerated technical investment under recent leadership, BTCL has enjoyed highly improved earnings margin growth. Its attractive double-digit trailing dividend yields continue to position it as a favorite defensive stock for domestic investors looking for stable yield.
Primetime Property Holdings (PTPH) | +18.0%
Last Price: P1.90
Why: Benefiting from a steady recovery in localized commercial real estate demands and structural resilience, Primetime outpaced other commercial property funds on the local exchange.
Sechaba Brewery Holdings (SECH) | +12.1%
Last Price: P39.00
Why: Sechaba maintains structural dominance over consumer staples. Strong brand equity coupled with robust distribution networks kept earnings highly liquid, rendering it one of the top traded counters driving the local market's equity turnover.
The Steady Gainers: Financials and Defensive Assets
First National Bank of Botswana (FNBB) | +9.4%
Last Price: P5.70
Why: FNBB captured stable returns through elevated transactional volumes and strong credit books. It continues to stand as one of the pillar institutions anchoring the domestic market index capitalization.
RDC Properties (RDCP) | +8.3%
Last Price: P2.60
Why: Supported by diversified regional portfolios that have insulated the firm against localized diamond sector and economic slowdowns impacting general domestic property performance.
Absa Bank Botswana (ABBL) | +7.1%
Last Price: P7.65
Why: Strong capitalization and defensive retail banking models allowed Absa to capture predictable profit trends, despite tight liquidity constraints facing local households.
CA Sales Holdings (CAS) | +6.8%
Last Price: P14.15
Why: Steady fast-moving consumer goods (FMCG) distribution demand across Southern Africa preserved baseline revenues.
Sefalana Holding (SEF) | +6.7%
Last Price: P16.00
Why: Defensive wholesale and retail consumer models insulated Sefalana against broader government austerity pullbacks.
Chobe Holdings (CHOB) | +6.3%
Last Price: P18.65
Why: Supported by a steady influx of international high-value tourism, maintaining firm luxury lodge bookings.
Olympia Capital (OCCL) | +3.7%
Last Price: P0.28
Why: Marginal, low-liquidity stock trading that experienced light consolidation.
Letlole La Rona (LLR) | +3.4%
Last Price: P3.05
Why: Moderate real estate index changes kept industrial property asset growth locked in single digits.
Botswana Insurance Holdings Limited (BIHL) | +3.2%
Last Price: P23.75
Why: High institutional trading volumes and a heavy anchor position in domestic portfolios yielded slow, risk-mitigated growth.
BBS Bank (BBS) | +1.4%
Last Price: P0.70
Why: The newly transformed commercial banker captured minor positive movement as it continues building its commercial banking footprint.
Standard Chartered Bank Botswana (SCBB) | +1.2%
Last Price: P8.76
Why: Highly conservative commercial lending kept growth stable but relatively flat compared to more aggressive domestic peers.
New African Properties (NAP) | +0.7%
Last Price: P4.06
Why: Minor adjustments in retail-heavy property structures left asset valuation changes practically unchanged.
The Flatline: Zero Movement
Engen Botswana (ENG) | 0% — Last Price: P14.25
Access Bank Botswana (ACC) | 0% — Last Price: P2.04
Seed Co International (SEED) | 0% — Last Price: P3.50
Far Property Company (FPC) | 0% — Last Price: P1.80
Shumba Energy (SHUM) | 0% — Last Price: P0.90
Minergy (MIN) | 0% — Last Price: P0.40
Why: A significant portion of these counters suffered from tight market liquidity and limited domestic retail trading volumes, resulting in flat, unchanged pricing over the trailing 12-month window.
The Laggards: Negative Trajectories
Cresta Marakanelo (CRE) | -8.6%
Last Price: P1.17
Why: Squeezed margins within local business travel and hospitality segments as government austerity measures limited state-sponsored event spending.
Turnstar Holdings (TURN) | -8.8%
Last Price: P2.06
Why: Valuations faced pressure from rising cost structures and structural commercial real estate lease adjustments in competitive areas.
G4S Botswana (G4S) | -9.0%
Last Price: P0.91
Why: Intensified localized competition in corporate security and logistics sectors forced pricing concessions, lowering overall profitability margins.
Letshego Africa Holdings (LETS) | -19.0%
Last Price: P0.85
Why: Despite a solid structural recovery, cleaner underwriting, and localized core profit growth in its Southern African markets (+23% in Botswana), the consolidated stock faced heavy downward pressure. This deceleration reflects market reactions to the costly restructuring and winding down of underperforming West and East African cross-border subsidiaries classified as discontinued operations.
Source: simplywallst
