The Cape Town Stock Exchange (CTSE) is poised to launch on October 1 under the leadership of CEO Eugene Booysen. “South Africa and Africa needs to know there’s an alternative to the JSE,” Booysen tells The Africa Report.
The CTSE is a rebranding of the 4 Africa Exchange, (4AX), which will be moving from Johannesburg, the country’s financial hub, to Cape Town. The exchange will be known as the CTSE from 1 October. The 4AX is one of the two operational, licensed stock exchanges in South Africa, with licenses for both equity and debt listings.
As Africa’s largest bourse, the Johannesburg Stocks Exchange (JSE) is slowly becoming a victim of its own success. Its listing rules are expensive for small and medium caps looking to raise equity. On 18 August, the JSE suffered a high-profile malfunction when, due to a technical glitch, it failed to open equities trading on time.
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