Botswana Stock Exchange’s ( BSE) application to become a full member of the World Federation of Exchanges ( WFE) has been approved.

“It is a vote of confidence on the integrity of our supervisory authorities, and our key stakeholder being the Ministry of Finance, in enabling a conducive environment for capital markets to thrive.

“It brings ample long term benefits for Botswana’s economy including being able to attract more foreign capital inflows,” said BSE Chief Executive Officer, Thapelo Tsheole.

WFE is the global industry association for exchanges and clearing houses, and is home to nearly 45,000 listed companies with a market capitalisation of over $ 67.9 trillion.

In addition, WFE works with standard setters, policy makers, regulators and government organisations around the world to support and promote the development of fair, transparent, stable and efficient markets.

Tsheole said the application and evaluation processes for this membership status were very rigorous and could not have been entirely successful without the support from stakeholders who interacted with the WFE Inspection Team.

“This achievement means that we have sufficiently demonstrated to the Board of Directors of WFE that we operate a fair, orderly and neutral market that protects the interests of all public participants.

“It attests that we are compliant with international best practices and are attractive in terms of our significance globally,” said Tsheole.

BSE has been an affiliate of WFE since June 2016.