Shares in the state owned Botswana Telecommunications Corporation, which is due to be listed this year on the Botswana Stock Exchange will be reserved for citizens of the southern African country and wholly owned local companies. Communications minister, Tshenelo Mabeo announced in Gaborone.
“No foreigner would be allowed to buy shares either directly or indirectly,” Mabeo said.
The listing of the company has been postponed several times owing to a number of considerations, Mabeo said.
Plans announced by the government shows that it wants 44% of the company’s shares to be available for purchase by citizens and citizen companies, while 5% will be retained for Botswana Telecommunication employees and government plans holding a 51% share of the company.
Mabeo said the core mandate of the IPO is to deliver an IPO that allows maximum potential for citizen participation.
