At first glance, it would appear that the quiet Botswana Stock Exchange (BSE) had a lackluster year. Its main index is down 1.0% in USD terms.
If you look closely at the performances of individual stocks, however, you will see that the market was weighed down by two large banks that are struggling to grow profits due to Botswana’s record low interest rates. Most other stocks have enjoyed solid price gains.
Here’s a countdown of the top five performers.