JSE to create township exchange for very small entrepreneurs
Cape Town — The JSE is working towards the creation of a township exchange for very small entrepreneurs, CEO Nicky Newton-King said in Parliament on Wednesday. The proposed exchange will provide a platform for such entrepreneurs to raise capital. Newton-King said the JSE is currently working on the eligibility criteria and building technology for the proposed bourse. The exchange will have to be cheap, accessible and affordable, and will exist alongside the main board, which has 325 company listings (11 of them black-owned), and the AltX for small enterprises, which has 56 listed companies. Newton-King told the public hearings on the transformation of the finance sector, organised jointly by the finance and trade and industry committees, that, as at the end of 2013, 39% of the top 100 companies listed on the JSE were foreign-owned, while "non-blacks" held 14% directly and 8% indirectly.
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