At a Glance
- Mining and financial stocks dominate the Botswana Stock Exchange by market capitalization.
- Anglo American alone represents over 80 percent of total BSE equity value.
- ETFs, banks and consumer firms offer diversification and steady dividend potential.
The Botswana Stock Exchange (BSE) stands as one of Africa’s most resilient and strategically important equity markets, boasting a total market capitalization of BWP754.01 billion ($54.79 billion).
Anchored by the Domestic Companies Index (DCI), the exchange reflects the performance of Botswana’s listed companies, spanning mining, finance, consumer goods, and telecoms.
Over the past decade, the BSE has demonstrated consistent growth, underpinned by government initiatives promoting economic diversification and investor-friendly reforms.
Mining and financial services dominate the market, with Anglo American Plc alone accounting for over 81 percent of total market capitalization, highlighting the sector’s centrality to Botswana’s economic narrative.
Meanwhile, ETFs like NewGold and NewGold Platinum offer investors exposure to precious metals, hedging against global volatility.
Banking, insurance, and consumer-focused companies provide stability and dividend potential, while emerging sectors such as renewable energy, property, and technology indicate a maturing investment landscape.
For investors, the BSE presents a blend of blue-chip dominance and niche opportunities. Regulatory frameworks ensure transparency, while growing foreign interest and ESG-driven investment trends offer fresh avenues for portfolio diversification.
As Botswana continues its economic ascent, these 21 stocks profiled by Shore Africa collectively offer a barometer of wealth creation potential, sectoral performance, and the country’s evolving financial ecosystem.
1. Anglo American Plc
Market cap: $45.29 billion
Anglo dominates the mining sector, anchoring Botswana’s equity market with its global mining footprint. Anglo American Plc is currently the most valuable stock on the BSE with a market capitalization of BWP 611 billion ($45.29 billion), which is about 81 percent of the entire Botswana Stock Exchange equity market.
2. NewGold ETF
Market cap: $2.51 billion
Offers investors direct exposure to gold prices, acting as a hedge amid global market volatility. NewGold ETF is currently the second most valuable stock on the BSE with a market capitalization of BWP 33.8 billion ($2.51 billion), which makes about 4.49 percent of the Botswana Stock Exchange equity market.
3. Investec Group Limited
Market cap: $2.04 billion
Investec Group Limited, a diversified financial services firm, is key to investment banking and wealth management in Botswana. It is currently the third most valuable stock on the BSE with a market capitalization of BWP 27.5 billion ($2.04 billion), which makes about 3.65 percent of the Botswana Stock Exchange equity market.
4. First National Bank of Botswana
Market cap: $1.03 billion
Leading retail and corporate banking operations, FNB is pivotal in driving financial inclusion. First National Bank of Botswana is currently the fourth most valuable stock on the BSE with a market capitalization of BWP 13.9 billion ($1.03 billion), which is about 1.84 percent of the Botswana Stock Exchange equity market.
5. NewGold Platinum ETF
Market cap: $633.79 million
Tracks platinum performance, attracting investors seeking diversification beyond gold.NewGold Platinum ETF is currently the fifth most valuable stock on the BSE with a market capitalization of BWP 8.55 billion ($633.79 million), which is about 1.13 percent of the Botswana Stock Exchange equity market.
6. CA Sales Holdings Limited
Market cap: $504.64 million
Retail-focused company, supplying consumer goods across Botswana with strong distribution networks. CA Sales Holdings Limited is currently the sixth most valuable stock on the BSE with a market capitalization of BWP 6.81 billion ($504.64 million), which makes about 0.903 percent of the Botswana Stock Exchange equity market.
7. Botswana Insurance Holdings Ltd (BIHL)
Market cap: $486.94 million
Provides life, general, and asset management services, a cornerstone of Botswana’s insurance sector. Botswana is traded on the BSE under the ticker symbol “BIHL”. Botswana Insurance Holdings Ltd is currently the seventh most valuable stock on the BSE with a market capitalization of BWP 6.56 billion ($486.94 million), which is about 0.87 percent of the Botswana Stock Exchange equity market.
8. Absa Bank Botswana
Market cap: $480.64 million
Major commercial bank with retail and corporate services, contributing to sector stability. Absa Bank Botswana is currently the eighth most valuable stock on the BSE with a market capitalization of BWP 6.49 billion ($480.64 million), which makes about 0.861 percent of the Botswana Stock Exchange equity market.
9. Sechaba Brewery Holdings Limited
Market cap: $311.48 million
Brewing giant driving the beverages market, benefiting from Botswana’s growing consumer base. Sechaba Brewery Holdings Limited is currently the ninth most valuable stock on the BSE with a market capitalization of BWP 4.2 billion ($311.48 million), which is about 0.558 percent of the Botswana Stock Exchange equity market.
10. Sefalana Holding Company Ltd
Market cap: $297.56 million)
Diversified food and retail group with nationwide reach and supply chain efficiency. Sefalana Holding Company Ltd is currently the 10th most valuable stock on the BSE with a market capitalization of BWP 4.01 billion ($297.56 million), which makes about 0.532 percent of the Botswana Stock Exchange equity market.
11. Choppies Enterprises Limited
Market cap: $257.51 million
Retailer with regional operations, focusing on affordability and rapid expansion in Southern Africa. Choppies Enterprises Limited is currently the 11th most valuable stock on the BSE with a market capitalization of BWP 3.47 billion ($257.51 million), which makes about 0.46 percent of the Botswana Stock Exchange equity market.
12. Standard Chartered Bank Ltd
Market cap: $193.55 million
International banking operations supporting trade finance and corporate clients in Botswana. Standard Chartered Bank Ltd is currently the 12th most valuable stock on the BSE with a market capitalization of BWP 2.61 billion ($193.55 million), which makes about 0.346 percent of the Botswana Stock Exchange equity market.
13. New African Properties Limited
Market cap: $181.98 million
Property investment firm managing commercial assets across Botswana. New African Properties Limited is currently the 13th most valuable stock on the BSE with a market capitalization of BWP 2.45 billion ($181.98 million), which is about 0.325 percent of the Botswana Stock Exchange equity market.
14. RDC Properties Limited
Market cap: $179.53 million
Real estate company focusing on retail and commercial property development. RDC Properties Limited is currently the 14th most valuable stock on the BSE with a market capitalization of BWP 2.42 billion ($179.53 million), which makes about 0.321 percent of the Botswana Stock Exchange equity market.
15. Engen Botswana Limited
Market cap: $168.98 million
Energy sector player supplying fuels and lubricants nationwide. Engen Botswana Limited is currently the 15th most valuable stock on the BSE with a market capitalization of BWP 2.28 billion ($168.98 million), which makes about 0.302 percent of the Botswana Stock Exchange equity market.
16. Lucara Diamonds Corporation
Market cap: BWP 2.05 billion ($151.94 million)
Diamond miner tapping Botswana’s rich gemstone reserves. Lucara Diamonds Corporation is currently the 16th most valuable stock on the BSE with a market capitalization of BWP 2.05 billion ($151.94 million), which is about 0.272 percent of the Botswana Stock Exchange equity market.
17. Letshego Holdings Limited
Market cap: $145.13 million
Microfinance and consumer lending firm with regional reach. Letshego Holdings Limited is currently the 17th most valuable stock on the BSE with a market capitalization of BWP 1.96 billion ($145.13 million), which makes about 0.26 percent of the Botswana Stock Exchange equity market.
18. Chobe Holdings Limited
Market cap: $122.4 million
Tourism and hospitality operator, leveraging Botswana’s wildlife and travel sector. Chobe Holdings Limited is currently the 18th most valuable stock on the BSE with a market capitalization of BWP 1.65 billion ($122.4 million), which is about 0.219 percent of the Botswana Stock Exchange equity market.
19. Access Bank Botswana
Market cap: $109.59 million
Banking group providing retail, corporate, and SME financial solutions. Access Bank Botswana is currently the 19th most valuable stock on the BSE with a market capitalization of BWP 1.48 billion ($109.59 million), which is about 0.196 percent of the Botswana Stock Exchange equity market.
20. Botswana Telecom Corporation
Market cap: $105.29 million
National telecom provider offering fixed, mobile, and broadband services. Botswana Telecom Corporation is currently the 20th most valuable stock on the BSE with a market capitalization of BWP 1.42 billion ($105.29 million), which makes about 0.188 percent of the Botswana Stock Exchange equity market.
21. Seed Co International Limited
Market cap: $102.36 million. Agribusiness leader producing high-quality seeds for regional farmers. Seed Co International Limited is currently the 21st most valuable stock on the BSE with a market capitalization of BWP 1.38 billion ($102.36 million), which makes about 0.183 percent of the Botswana Stock Exchange equity market.
