Terms and Conditions

We publish economic analysis, financial market data and commentary covering Botswana and the wider region. This includes The Capital Brief, a weekly newsletter, and Capital Intelligence, a subscription platform covering Botswana Stock Exchange equities and bonds, macroeconomic indicators, and listed company fundamentals.

We may add, change or withdraw features over time. Where a change materially reduces what a paid subscription provides, we will tell subscribers before it takes effect.

Nothing we publish is investment advice, and nothing on this site should be treated as a recommendation to buy, sell or hold any security. We are a media and research company. We are not a licensed investment adviser, broker or dealer, and we do not provide personalised financial advice.

Our analysis is general in nature and takes no account of your circumstances, objectives or risk tolerance. Decisions you take on the strength of anything we publish are yours alone. Speak to a licensed adviser before acting on any of it.

We take our figures from primary sources: the Botswana Stock Exchange's own daily market report, the Bank of Botswana, Statistics Botswana, and companies' own published results. We date every figure and state its source.

We work carefully but we do not warrant that everything we publish is free of error, and we do not warrant that a source we depend on is itself correct or available. Market data is presented as of the date shown, not in real time. If you spot an error, tell us at info@thecapitalbw.com and we will correct it.

Paid plans are billed monthly in advance through our payment provider. Prices are shown on the pricing section of the site and are quoted in Botswana Pula. The student rate is available only to an email address at a recognised academic institution, and we may re-check that eligibility from time to time; an account that no longer qualifies may be moved to the standard rate on notice.

You can cancel at any time. Cancellation stops the next renewal; access continues until the end of the period you have already paid for. Refunds are governed by our refund policy.

We may change prices. Existing subscribers will be given notice before a change applies to their renewal, and may cancel instead of accepting it.

You are responsible for keeping your login details secure and for activity under your account. A subscription is for one person. Sharing credentials, or republishing or redistributing subscriber-only material, is not permitted and may result in the account being suspended.

All content we publish, including written analysis, data compilations, charts and reports, belongs to The Capital Media (Pty) Ltd or to our licensors. The Capital Media, the bull device, Capital Intelligence and The Capital Brief are our trade marks.

You may read, download and quote from our material for your own use, including short quotations in your own work with clear attribution to The Capital Media and a link to the source page. You may not republish substantial parts of it, resell it, or use it to train a machine learning model, without our written permission.

Some areas of this platform host work commissioned by a specific client and are available only to that client's authorised users. Access to those areas is governed by the engagement agreement with that client as well as by these terms. Nothing in a client area is published to, or intended for, our general subscribers.

Do not attempt to breach the security of the site, scrape it at a scale that burdens it, circumvent a paywall, or use it to distribute unlawful material. We may suspend access where we reasonably believe any of this is happening.

We aim to keep the service available but we do not guarantee uninterrupted access. Maintenance, a failure at a third party we depend on, or an outage outside our control can interrupt it. Where an interruption is prolonged and material, tell us and we will deal with it fairly.

To the extent the law allows, we are not liable for investment losses, lost profits, or indirect or consequential loss arising from your use of the service or reliance on what we publish. Nothing in these terms limits liability that cannot lawfully be limited, including for fraud or for death or personal injury caused by negligence.

How we handle personal information is set out in our privacy policy, and how we use cookies is set out in our cookies policy. Both form part of these terms.

We may update these terms. The date at the top of this page shows when they last changed. Where a change is material we will tell subscribers directly rather than rely on this page alone. Continuing to use the service after a change means you accept it.

These terms are governed by the laws of the Republic of Botswana, and the courts of Botswana have jurisdiction over any dispute arising from them.

The Capital Media (Pty) Ltd, Gaborone, Botswana. info@thecapitalbw.com.