Botswana Stock Exchange (BSE) has announced intentions to launch construction of its headquarters in the capital’s Central Business District (CBD) in the fourth quarter of the year, estimated to cost between P175 million to P200 million.

“Construction is set to commence in the next few months,” said Central Securities Depository Botswana (CSDB) Board Member, Pascaline Sefawe.

She said BSE plans to build an icon home, and part of its efforts is to partner with different stakeholders in wealth creation. Sefawe said the building will also be a revenue generation channel to reduce cost in the long run.

Sefawe highlighted that logistic works are at advanced stage to get an architecture and engineers for the seven-storey building, to house the bourse and partners in the capital market space.

“We intend to follow the highest standards to ensure its completion on time and within budget,” said Sefawe.

Sharing Sefawe’s sentiments, BSE Chief Executive Officer, Thapelo Tsheole said the company wants to build an icon building that will represent the views and values of the stock exchange.

He emphasized that the construction will involve citizen contractors and subscribe to ESG values such as energy efficiency.

Permanent Secretary in the Finance, Olesitse Masimega applauded BSE for joining other stock exchange by creating a monumental building.

“The building will open new streams of income, through offering tenants that provide complementary services, space to rent,” said.

The new building is expected to have visible and modern branding, illuminating signage and top notch ambiance, including a coffee shop and others.

In addition, the vibrant spaces in the new building are expected to foster synergies, sharing ideas, building wealth and creating collaborations for wealth creation.

Completion of the icon building is expected before the end of BSE’s five-year strategic plan (2022-2026) that seeks to make the local bourse a world class securities exchange, particularly in the frontier markets space, supported mainly by technology transformation.

Some of the new features are a new CSD system to include management settlement guarantee fund, identifiers for companies and instruments, IPO processing, AGM e-voting for listed entities, repo management and online investor access.

The technology transformation is expected to spur investor activity and introduction of new services and products.