Botswana bourse lifts trading ban on Choppies

Botswana Stock Exchange (BSE) has lifted trading suspension on fast-moving consumer goods (FMCG) retailer Choppies, after 20 months ban.

Thapelo Tsheole, Chief Executive Officer of BSE, on Friday said the decision is effective from Monday July 27 2020.

“Choppies Enterprises Limited securities will resume trading on the market following a decision to lift their suspension by the BSE,” said Tsheole.

Choppies, the pan-Africa retailer was suspended from BSE in 2018 after failure to release financial results for the year ended June 30, 2018 as the results were delayed.

Tsheole said the company has now published financial statements, bringing it into compliance with BSE requirements.

Choppies’ operations have plunged over the years, leading to pulling out of markets such as South Africa and Kenya and retrenchments on workers in Botswana. Enditem