The bourse has developed several programmes to grow small business sector
A worker sews face masks in Johannesburg. Picture: ALAISTER RUSSELL/THE SUNDAY TIMES
The NDP envisages SMMEs helping propel the economy to 5% annual growth by 2030, with 60%-80% of economic value generated by SMMEs and expanding businesses. At this growth rate, 90% of the millions of new jobs that would be created would be generated by SMMEs. Logically, the next best course of action to follow is to encourage innovation, which facilitates creation of new businesses along with well-paying, sustainable jobs.
In 2003 the JSE launched the alternative exchange , which served as a nursery for the exchange’s main board. Successful companies like banking group Capitec and private school operator Curro listed and raised capital on AltX before graduating to the JSE’s main board. Capitec has become a R200bn company, while Curro’s market capitalisation has grown to about R7bn.
The performance of participants in the programme is tracked and measured using key indicators, focusing on specific areas of business performance such as revenue growth, management skills, investor readiness and market competitiveness. This performance-based approach primes participants for acceleration.
In 2016 the JSE launched an Enterprise Development Programme aimed at stimulating the growth of emerging brokers through its Black Stock Broker Programme, which also demonstrates the bourse’s commitment to the transformation of SA’s capital markets. The JSE provided financial assistance to black stockbrokers in the form of cash disbursements equal to 33% of quarterly equity trading fees, and paid their membership fees to ensure their sustainability.
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