The exchange cannot stop the flow of delistings on its own, and it looks as if it has not been able to persuade the National Treasury to implement policies that have been successful elsewhere.
The decline in the number of South African listed companies is the subject of market mutterings every time another delisting announcement hits the Stock Exchange News Service.
The JSE has spent two decades trying to reverse this trend. Initiatives such as launching the AltX junior board, facilitating inward dual listings and introducing real estate investment trusts have all been somewhat successful, and the exchange is in the middle of another root-and-branch reform of its listings rules. But despite its best efforts, it has been unable to reverse the trend. . ..
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