BSE-listed Companies delay release of financial results to include COVID-19 impact
Botswana Stock Exchange CEO, Thapelo Tsheole says they expect some listed companies to delay release of their respective financial results so as to factor in the impact of the global pandemic, COVID-19.
Tsheole was speaking to this publication after we noticed that companies which were due to release either interim or final results before end of March 2020 had not done so. 'Only in the immediate term,' Tsheole told Botswana Guardian. He explained that accounting standards require them to disclose possible impact of COVID-19 on their businesses.
Botswana’s oldest bank, Standard Chartered Bank Botswana has told the market that full year results to December 2019 will be delayed as they are still assessing the impact of COVID-19 on their operations. The results which will have been out by now are expected anytime. Micro-lending titan, Letshego has also delayed final audited results to December 2019, citing similar reasons.