NewGold ETF lost P8.70 to trade at P294.30 from P303

Here’s tonight market updates

Absa Limited Botswana gained 1 thebe to trade at P6.56 while BTCL gained 1 thebe to trade at P0.82 on 29 April 2024

Mr Kopano Bolokwe steps in as acting CEO of Botswana Stock Exchange on the 30 April 2024

Standard Chartered Bank gained 16 thebe to trade at P5.76, Anglo American plc gained P7.11 to end the day trading at P469.11 and NewGold ETF lost P8.70 to end the day trading at P294.30 on the 3rd May 2024

NewGold ETF lost P8.70 to trade at P294.30

The ETF instrument has seen a major loss today, after losing 79% of last week’s gain. Last week it jumped to P303 after gaining P11 but today it lost more than half of that gain to end the week trading at P294.30.

Kopano Bolokwe as acting CEO

Mr Kopano Bolokwe stepped in as the acting CEO for the Botswana Stock Exchange following the retirement of Mr Thapelo Tsheole. Kopano's appointment at BSEL is underscored by his extensive experience and transformative impact within the financial sector. As the Head of Product Development since 2016, he has spearheaded numerous initiatives that have elevated BSEL's global stature. His accomplishments include the introduction of innovative investment products, the establishment of key equity and bond indices, and the successful evolution of the Botswana Bond Market Association.

His academic and professional achievements are equally noteworthy, boasting a Master of Business Administration from the University of Botswana, a Chartered Alternative Investment Analyst (CAIA) Charterholder, and ongoing pursuit of a Doctorate in Management. Kopano's international exposure, including roles in New York and contributions to the African Securities Exchanges Association, demonstrates his global perspective on financial markets.

Beyond his credentials, Kopano's strategic insights have significantly influenced BSEL's direction, particularly in areas such as risk management, sustainable finance, and commercial success. His leadership extends to shaping national financial policies and driving the success of data sales and products at BSEL.

The BSEL Board unequivocally supports Kopano's leadership and anticipates further enhancements to the exchange's value proposition under his guidance. Kopano's vision, expertise, and commitment position him as a driving force in advancing BSEL's standing within the global investment community.