Palapye.com News Blog

source: Mmegi

WANETSHA MOSINYI
STAFF WRITER

With the installation of the Central Securities Depository (CSD), the Botswana Stock Exchange will be fully automated at the end of this month.

Presenting the 2008/09 Budget speech, Finance Minister Baledzi Gaolathe said Government supports the development of capital markets with projects such as the installation of the CSD on the BSE.

The CSD registers share certificates electronically. Market analysts have welcomed the project, saying it will boost liquidity on the local bourse.

CEO of Stockbrokers Botswana Geoffrey Bakwena said government should be commended for assisting the BSE to secure the CSD because the facility will speed up the sale of shares. “I understand this system (CSD) is very expensive and that government helped the Botswana Stock Exchange secure it,” Bakwena said. “They should be commended for that.

“The system that is being used now is very tedious. For example, you have to fill in the indemnity form and print out the share certificate. That delays the process.” Bakwena said because the CSD is automated, it will help [continue reading]