Botswana: bonds

Botswana Stock Exchange (BSE), based in Gaborone, is given the responsibility to operate and regulate the equities and fixed interest securities market. Formally established in 1989, the BSE continues to be pivotal to Botswana’s financial system, and in particular the capital market, as an avenue on which government, quasi-government and the private sector can raise debt and equity capital. Although the BSE has just under 40 companies listed, it plays host to the most pre-eminent companies doing business in Botswana. These companies represent a spectrum of industries and commerce, from Banking and financial services to Wholesaling and Retailing, Tourism and Information Technology.
To date, the BSE is one of Africa’s best performing stock exchanges, averaging 24% aggregate return in the past decade. This has allowed the BSE to be the third largest stock exchange, in terms of market capitalization, in Southern Africa.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
BWP 6 8 032 000 000
corporate
BWP 29 3 130 210 000
ZAR 5 890 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Dagong Credit *** International scale rating (foreign curr.) ***
Dagong Credit *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Getbucks Botswana, 18% 31dec2021, BWP - Domestic bonds BW0000001726 18% 50 000 000  BWP 02/24/2017 12/31/2021
Getbucks Botswana, 15% 24feb2020, BWP - Domestic bonds BW0000001734 15% 21 800 000  BWP 02/24/2017 02/24/2020
Letshego Holdings, FRN 13nov2020, ZAR - International bonds ZAG000141268 3 Month JIBAR + 6% 100 000 000  ZAR 12/13/2016 11/13/2020
Letshego Holdings, 14.3% 14nov2019, ZAR (19) - International bonds ZAG000132259 14.3% 175 000 000  ZAR 12/12/2016 11/14/2019
First National Bank Botswana (FNBB), 7.48% 1dec2026, BWP - Domestic bonds BW0000001700 7.48% 40 000 000  BWP 12/01/2016 12/01/2026
Letshego Holdings, FRN 13sep2017, ZAR (22) - International bonds ZAG000139353 3m JIBAR + 2.4% 100 000 000  ZAR 09/13/2016 09/13/2017
Letshego Holdings, 13.32% 14nov2018, ZAR (18) - International bonds ZAG000132242 13.32% 180 000 000  ZAR 12/14/2015 11/14/2018
Letshego Holdings, FRN 14nov2018, ZAR (17) - International bonds ZAG000132234 3 month JIBAR + 5.5% 335 000 000  ZAR 12/11/2015 11/14/2018
First National Bank Botswana (FNBB), FRN 11nov2020, BWP - Domestic bonds BW0000001510 91-day BoBC rate + 0.75% 125 590 000  BWP 11/11/2015 11/11/2020
First National Bank Botswana (FNBB), FRN 11nov2022, BWP - Domestic bonds BW0000001528 91-day BoBC rate + 1% 112 120 000  BWP 11/11/2015 11/11/2022

Currencies

Daily indices

Type: 06/26/2017 06/23/2017 06/22/2017 06/21/2017 06/20/2017 06/19/2017 06/16/2017
Exchange Rates (Emerging Markets)
USD/BWP 10.2376 10.2506 10.2803 10.2948 10.2962 10.2280 10.2366
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Macroeconomic Indicators (World economy)

Monthly indices

Type May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Botswana) 3.50 3.40 3.50 3.40 3.10
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Yearly indices

Type 2016 2015 2014
Government Debt to GDP (World), %
Government Debt to GDP(Botswana) 22.80 22.70 22.80