The WFE's Women Leaders 2025 - Thapelo Moribame, Head of Market Development, Botswana Stock Exchange

Name: Thapelo Moribame

Job title: Head of Market Development

Organisation: Botswana Stock Exchange

1. Brief description of nominee’s role and job. 

An astute leader with a strong record of transformation, I am the Head of Market Development at the Botswana Stock Exchange, a position that I have held for more than eight years. My primary area of responsibility is issuer and investor attraction strategies that position the exchange as an ideal destination for entrepreneurs to raise capital and an avenue for wealth creation for local and international investors.  

I'm driven by my love for my country Botswana and its quest to diversify the economy away from diamonds. Through my work, I take the initiative to position the exchange as an integral part of attracting investment and a catalyst of economic diversification and development. I play a significant role in promoting SME Development through capital markets and lobbying stakeholders to support this segment through various high-impact initiatives. In attracting issuers to the market, I use a framework that highlights the agility of the BSE, the abundant capital from pension funds and the conducive macro-economic environment to put together a strong value proposition. This is followed by a structured hand-holding process, complemented by market participants, with the goal is to ultimately get these companies to list.  

In doing my job, I promote inclusion and diversity, I am purposeful in ensuring that I am part of solutions that are driven by the local context and contribute to overall development. I work well with my team and engage as much as possible with my diverse stakeholder network. 

2. Short bio (career highlights, education, interests/hobbies). 

I attained a Master of Commerce in Economics, an Honours Degree in Economics, both from the Stellenbosch University in South Africa, I also have a Bachelor of Arts Degree in Social Sciences (Economics and Public Administration) from the University of Botswana.  

My career started at the Department of International Trade as an Assistant Trade Officer where I was in charge of trade in services and trade facilitation on the Multilateral/World Trade Organization (WTO) desk. This role exposed me to the importance of market expansion and notable catalysts for global trade, the knowledge that I am utilising fully in my current job at the exchange. I assisted with developing trade positions for Botswana at negotiation meetings. Still at the Ministry, I was selected through a competitive process with about 52 other young fellows from across the world to join the United Nations University International Courses in Tokyo Japan. 

Following my time at the Department of International Trade, I had the opportunity to join the Local Enterprise Authority (LEA), an SME development parastatal, as a Market Access Specialist responsible for creating markets for SMEs. I was fortunate enough to have the opportunity to use my business development skills to identify business opportunities for SMEs. I have also worked for Air Botswana, the national airline, as a marketing manager. 

Since joining the exchange in 2016, I have been part of a team that has transformed the capital markets to promote activity and value for stakeholders. Introducing the Tshipidi Mentorship Programme in 2019 is one of my career highlights. The programme promotes SME corporatisation and mentorship through structured learnings.  

I have also brought listings to the exchange through dedicated strategies to convert prospects into issuances, contributing to growth in the number and diversity of issuers. I have shared the listing value proposition extensively with founders, CEOs, management and boards of SMEs, large corporations and family-owned businesses showing the impact that the exchange has on businesses and the broader society. 

Outside of the BSE, I am privileged to sit on a Pan African Board of Nabo Capital, an investment firm based in Nairobi, Kenya, as well the Policy and Regulatory Working Group of the African Securities Exchanges Association (ASEA). I am a sought after thought leader, and I speak at various capital markets events, as well as events that promote gender diversity, female empowerment and inclusion.  

I subscribe to the motto that health is wealth and I spend my spare time participating in activities that promote my physical and mental health. I exercise regularly, right now I do a lot of Pilates and Yoga which I highly recommend to professionals for stress reduction and to achieve a healthier work-life balance. I spend some of my free time gardening and I also listen to podcasts and read a lot of motivational books. 

3. What were your professional highlights and challenges of 2024? 

2024 was an exciting year at the BSE. I worked with the team to lead the introduction of the stock market simulator, a technology-driven platform that promotes financial literacy and educates prospective investors about investment dynamics in a risk-free virtual environment. The introduction of this platform allowed us to integrate the award-winning Senior Secondary Schools Finance and Investment competition and heed the national priority of going digital. This was certainly a proud moment and it is a great step towards the introduction of online trading platforms at the BSE. In commemoration of World Investor Week, I led the introduction of the national finance and investment competition to rally interest and educate the market about investing in the stock market. 

Being the project lead for hosting the African Securities Exchanges Association (ASEA) Conference 2024 in Botswana was another great highlight. This flagship conference serves as a vital forum where member exchanges come together to discuss and strategise on issues pertaining to capital market development across the continent. As a team, we are working hard to steer the conversation towards the achievement of the Africa Agenda and demonstrate our prowess as a market.  

In 2024 we made great strides in attaining our strategy and identifying opportunities for growth in the midst of leadership transitions and a shift in global-market dynamics. 

4. Tell us about a few of your key achievements throughout your career? 

At the BSE, I have been fortunate to define the DNA of market development through policy, strategies and key initiatives that propel the market forward. I have been able to contribute to core revenue through issuer and investor attraction strategies that promote listings and liquidity. My notable contribution has been introducing partnerships and publications that have contributed to non-core revenue as well due to my commercial, negotiation and people skills. Some of the most notable partnerships was with NASDAQ, media giant CNBC, listed companies and market participants. I have also introduced a publication named BSE News which has been an educational piece and a revenue earner for the exchange. 

I am passionate about information symmetry. As such I have introduced platforms such as the Opening Bell that have become flagship events of the BSE in celebrating new listings and market milestones. Still at the BSE, I have created policies and processes that have defined the way we do things, mitigated market and reputational risks and continue to promote the integrity of the exchange. I cherish the fact that throughout my career I have been part of wonderful teams and I have built a strong network of professionals in Botswana and beyond. 

5. What and who inspires, and has inspired, you to achieve your professional success? 

I derive inspiration from knowing that there is no challenge that cannot be overcome, that even in the midst of setbacks it is important to have a big picture mindset and focus on solutions. I also get inspiration from the proverb that if you want to go fast, go alone; if you want to go far, go together, because this captures the essence of partnership and the power of collaboration beautifully. I am driven by the quest to develop capital markets in Botswana and beyond, I also want to see my country develop a vibrant economy building on its impressive track record.  

I am passionate about Individuals and corporates taking responsible stewardship of resources for the future generation to thrive. This inspires me to do the best that I can in my little corner knowing that I can make an impact. 

Closer to home, my parents have been a great example of hard work, dedication and resilience in their pursuit for a better future in the midst of less favourable circumstances. This inspires me to work hard, give back and strive to be a great role model for young people. I also draw inspiration from people who are dedicated to their craft and I spend time observing and learning from them.  

6. How have you overcome setbacks, and what advice would you give to others dealing with setbacks? 

Last year, I had a colleague tell me in his own words that I "have great emotional regulation" and that conversation came after I experienced a setback at work that could make anyone unhappy, but I dealt with it in a way that makes me proud of the way I handle things. I also an optimist, and this is because I see setbacks as temporary and definitely not the outcome and this has allowed me to push for steady progress in areas that require development. 

That is not to say that sometimes it is not too much, but a good night's sleep and a chat with those who are able to bring me back to centre always does the trick and the following day I come back more determined. A setback gives me the opportunity to learn from my mistakes, evaluate parts that don’t work and re-strategise for a great outcome. I am also fortunate to have a wonderful team, particularly at Market Development as we have built a great and safe working relationship, they are truly the wind beneath my wings. 

7. What advice do you have for other women who aspire to be in leadership positions? What is the biggest takeaway you want to leave with the reader? 

I have had the opportunity to engage and mentor women who aspire for leadership and I must say that women are capable and they are equipped to contribute to growth in their respective areas and change the world. When engaging with women, I always emphasise the fact that it starts with knowing that they can, and that they have a voice and they should take the opportunity to contribute to discussions without holding back. Self-development is also an important step towards developing strong leadership skills, and so is learning to embrace setbacks and challenges.  

It is important to understand that leadership is not a title, but a responsibility and to embark on the journey with the confidence to know that it will inspire generations to take their rightful place in securing a future for themselves. I have the greatest respect for women and their ability to lead in various facets of their lives naturally. I am proud that women are taking on more leadership roles and it is inspiring to watch.