Botswana’s capital market is set for another significant milestone as Kwa Nokeng Oil Holdings Limited prepares to make its debut on the Botswana Stock Exchange (BSE), bringing one of the country’s established privately owned fuel distribution businesses into the public investment market.
The company is scheduled to list on the BSE Main Board on Tuesday, 10 November 2026, in a development that further strengthens the representation of Botswana’s energy and petroleum distribution sector on the domestic bourse.
With an implied market valuation of approximately P2.8 billion, Kwa Nokeng Oil’s listing represents one of the notable corporate developments in Botswana’s capital markets this year, offering investors an opportunity to acquire shares in a business with a longstanding presence in the country’s petroleum supply chain.
The listing follows an initial public offer involving 1.372 billion existing ordinary shares at P1 per share, representing 49 per cent of the company’s issued share capital. The transaction comprised a private placement of 1.322 billion shares targeting institutional investors and a public offer of 50 million shares available to individual investors.
Importantly, the transaction is structured as an offer for sale by existing shareholders, rather than a conventional capital-raising exercise. This means proceeds from the share sale will accrue to the selling shareholders, founding family custodian Clinton Jansen Van Vuuren and private equity investor Chroma Capital 2, while the company itself will not receive funds directly from the offering.
Following the transaction, the two existing shareholders are expected to retain a combined 51 per cent stake, maintaining their controlling interest in the business.
