New bourses add to growth potential as they increase choice
SA’s stock exchanges facilitate an important process of wealth creation and redistribution
For the country to go forward, economic growth must remain the holy grail for all South Africans. The importance of job creation, wealth creation and wealth redistribution cannot be overstated in this regard. Of the many tools SA has at its disposal, the workings of its capital markets, and in particular the country’s stock exchanges, should feature strongly. Seeing that economic activity must be funded in some way or another, the country generally looks to its capital markets as providers of capital for this purpose. SA’s stock exchanges, such as the JSE and others, are a key feature of its capital markets and facilitate an important process of wealth creation and redistribution. In about the past year, three new stock exchanges came into being in SA. This was a significant development as the JSE has been operating since 1887 and enjoyed a period of about 130 years as the only stock exchange in SA. It has won many international accolades and is widely acknowledged as being one of t...