BSEL misses family owned businesses

Botswana Stock Exchange Limited (BSEL) still has a huge task in convincing local family owned businesses to list on the bourse. Despite the stock exchange offering opportunities to raise capital which most businesses need for growth, local entrepreneurs are yet to list. “Surely people need to be assured that entities such as stock exchange function properly, with supporting laws such as Listed Security Act, investors need to be assured that their investment is protected,” said Dr. Ishmael Nshakazhongwe, Chairman and Managing Director of the Zambezi Group, a family owned business with business interest in petroleum, hospitality, property, farming and international trade. Nshakazhongwe’s sentiments were also shared by Abel Tshepo Monnakgotla of AT&T Monnakgotla who has also diversified their family business from a small transport company into many other sectors which include insurance, property, car rentals among others. “We are in the process, we are going there, maybe not at other people’s pace,” said Monnakgotla, adding that most family businesses need to review their governance structure before listing. “We have not reached that point as required by BSEL for listing,” Monnakgotla said. Meanwhile Thapelo Tsheole, BSEL Chief Executive Officer is eager to get the country’s thriving family businesses on the bourse. “We want their businesses to be listed on the BSE,” said Tsheole, also urging family business owners to teach young entrepreneurs and share knowledge to help grow entrepreneurship in the country.