JSE turns to Saudi Arabia to help with growth

  • Johannesburg Stock Exchange (JSE) group CEO, Leila Fourie, has signed a Memorandum of Understanding (MoU) with the Saudi Tadawul Group.
  • The MoU aims to make the JSE the leading stock exchange on the African continent.
  • It will also explore the feasibility of dual-listing stocks for capital  markets in both SA and the Kingdom of Saudi Arabia.

In an interesting move given the recent addition of the Kingdom of Saudi Arabica to the BRICS economic bloc, the Johannesburg Stock Exchange (JSE) has announced the signing of a Memorandum of Understanding (MoU) with Saudi Tadawul Group.

JSE group CEO, Leila Fourie (pictured to the right, above), signed the MoU with the intent to serve as a catalyst for growth, innovation, and technological advancement in both markets.

“The MoU with the Saudi Tadawul Group will enable targeted client cross-selling engagements to foster secondary market trade activities and support new issuances, broadening the trading universe for investors and issuers alike… the MoU also seeks to facilitate the development of new financial products and expedited listing processes that cater to the unique needs of both markets.” noted Fourie in a release shared with Hypertext.

“The MoU also brings to light shared interests in infrastructure investments, particularly in renewable energy projects, and the potential for leveraging Saudi expertise in sectors like health insurance and medicine to deepen economic ties,” she added.

The signing also looks to make the JSE the leading stock exchange on the African continent, with it potentially enhancing access to diversified markets and broader investment opportunities. 

“We are committed to connecting with global capital markets, in line with our goal to advance the Saudi capital market and Vision 2030’s Financial Sector Development Programme. We look forward to creating solutions that will benefit both the Saudi and African markets,” highlighted Khalid Alhussan (pictured above, left), CEO of the Saudi Tadawul Group.

Moving forward, the MoU will explore the feasibility of dual-listing stocks in a bid to enhance liquidity and access to capital markets in both South Africa and the Kingdom of Saudi Arabia.

[Image – Provided]


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