PODCAST | The JSE’s CEO on the state of the SA exchange

The JSE is front and centre in this edition of Business Day Spotlight.

Host Mudiwa Gavaza is joined by Leila Fourie, group CEO of the JSE.

Fourie says the JSE, currently the 18th-largest exchange in the world by market value, is faring very well in comparison to the rest of Africa and major global markets.

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While the JSE’s Top 40 index is up 12.9% so far in 2021, the UK’s FTSE 100 is up 10.19%, Europe and the US Nasdaq are up 16%, with the S&P up 19%, during the same period.

The JSE head says 2020 had been a volatile year, the recovery currently being led by the resources financial sectors.

Fourie flags foreign outflows from SA as a concern for the economy.

Topics of discussion include: how the exchange views the balance between new listings and delistings; if the JSE still has its place as a premier emerging-markets exchange; investment in technology and systems in the light of the recent trade stoppages; what the JSE is doing to keep its system secure from cyberattacks; and increasing its place as an investment destination.

In recent years, the JSE has faced new competition from the A2X, which began trading in October 2017 and is partly owned by Patrice Motsepe’s African Rainbow Capital. The exchange is authorised to provide a secondary listing platform for companies that include Naspers, Prosus, Sanlam, Sasol, Aspen Pharmacare, Exxaro, AVI and Mr Price.

Fourie says it welcomes competition as it forces the JSE to become more innovative and offer better value to the 99% of SA market it controls. 

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• Business Day Spotlight is a MultimediaLIVE production.