Govt and JSE in talks to establish stock market in Soweto

JOHANNESBURG - Government and the Johannesburg Stock Exchange (JSE) are in talks to establish a stock market in Soweto.

The initiative, which is part of the national development plan, aims to strengthen public-private partnerships and drive sustainable development.

Minister of Planning Maropene Ramokgopa, Johannesburg Mayor Dada Morero, and JSE CEO Leila Fourie met on Thursday to discuss the project.

Ramokgopa emphasised the importance of bringing markets closer to the people.

The proposed Soweto Stock Market is expected to provide local businesses with easier access to capital, stimulate economic growth, and create job opportunities within the community.

Minister of Planning Ramokgopa said that frameworks to establish markets in locations like Soweto were currently being developed and hoped that Thursday's discussions bear fruits.

"I hope that they will take it to heart. That is important because it will speak about the retail markets that can assist our economy to grow, but we have also spoken about areas of investment partnerships in programs such as carbon markets."

Ramokgopa said that part of the agenda included the potential listing of state-owned enterprises on the JSE, a move she believes could enhance their profitability and performance.

The collaboration marks a significant step towards inclusive economic development, bringing financial markets closer to historically underserved communities.