The managing director of Botswana Telecommunications Corporation (BTC) is calling for the company’s shares to be opened up to all investors, not just citizens. A report from Business Week quotes Anthony Masunga as saying that opening up the group’s trading was necessary ‘to accurately produce a value for BTC and in turn return proper value to investors’. He said: ‘80% of our investors hold shares of 5,000 and below, which creates volatility of our stock.’ The government offloaded a 44% stake in fixed and mobile operator BTC via an IPO in March 2016, with a further 5% going to employees of the telco; the remainder is still state-owned.
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