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BSE · Botswana

Best Stockbrokers in Botswana

The BSE is one of the more stable African exchanges thanks to Botswana's investment-grade credit rating and prudent macro management. The market is small (around 35 listed companies) but offers some of the most consistent dividend yields on the continent. Foreign investors face few barriers.

Regulator: Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
Depository: Central Securities Depository Company of Botswana (CSDB)

4 regulated brokers covering BSE

Every broker listed below is licensed by Non-Bank Financial Institutions Regulatory Authority (NBFIRA). We do not rank them — order is informational only. Always verify current licensing on the regulator's website before opening an account.

Stockbrokers Botswana

Traditional Broker

Long-established Botswana broker. Full BSE execution, advisory, and asset management.

Best for:
Retail and institutional investors
Mobile app:
No
Access:
Foreign investors welcome
Visit Stockbrokers Botswana →

Motswedi Securities

Traditional Broker

Independent BSE-licensed broker offering equities trading, fixed income, and IPO underwriting.

Best for:
Mid-tier investors and corporate clients
Mobile app:
No
Access:
Foreign investors welcome
Visit Motswedi Securities →

Imara Capital Securities Botswana

Traditional Broker

Pan-African Imara Group's Botswana arm. Regional research and BSE execution.

Best for:
Pan-African investors and HNW clients
Mobile app:
No
Access:
Foreign investors welcome
Visit Imara Capital Securities Botswana →

African Alliance Botswana

Traditional Broker

Pan-African investment banking group with a BSE-licensed Botswana subsidiary.

Best for:
Institutional and cross-border investors
Mobile app:
No
Access:
Foreign investors welcome
Visit African Alliance Botswana →

How to open an account on the BSE

  1. 1

    Open a CSDB account

    Central Securities Depository of Botswana — opened through any BSE-licensed broker.

  2. 2

    Botswana Tax Number

    Required for dividend tax administration. Botswana Unified Revenue Service (BURS) issues these to residents and non-residents.

  3. 3

    Fund and trade

    BWP via Botswana bank account, or USD/ZAR wires to broker's nostro. Standard T+3 settlement.

KYC documents you'll need

  • Valid passport
  • BURS Tax Number
  • Proof of address
  • Source-of-funds declaration

Fees and tax

Dividend withholding tax10% (treaty rates may reduce)
Capital gains tax on listed equityGenerally exempt
Typical brokerage commission0.75% – 1.5%

Fees and tax rates are indicative and change. Verify current rates with your broker and the latest Finance Act before transacting.

Frequently asked questions

Why is Botswana attractive to foreign investors?

Investment-grade sovereign credit rating, stable institutions, and one of the most prudent macroeconomic frameworks in Africa. The Pula is one of the more stable African currencies.

What are the largest BSE-listed companies?

First National Bank Botswana, Standard Chartered Botswana, Letshego Holdings, Choppies Enterprises, Sefalana, and BIHL are among the largest by market cap.

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