By Khuleko Siwele.
South Africa’s financial-markets regulator approved changes to rules around listing that will make it easier for companies to start trading on the continent’s biggest bourse.
The Financial Sector Conduct Authority signed off on the so-called simplification project, which cuts the volume of requirements to list on the Johannesburg Stock Exchange more than half, JSE said in a statement.
The rules form part of JSE’s broader drive to create an environment that attracts and retains listings.
“This reform package is already strengthening our pipeline and lowering barriers to listing, while safeguarding investors through clear, fit for purpose regulation,” said André Visser, the director of issuer regulation at the JSE.
Reforms include cutting the voting threshold for share issues and buybacks to 50% from 75%, ending the need for pro-forma financials for cash issues and buybacks, and ending the need for fairness opinions for related-party transactions.
The requirements take effect for existing issuers on 16 February and became active for new applicants seeking a listing on 13 January.
After years of losing listings as companies grappled with difficult regulatory and funding conditions that made it less attractive to raise capital through initial public offerings, the JSE saw 2025 mark its best year for funds raised from IPOs since 2017 with listings that included financial-technology firm Optasia Group and mobile-network operator Cell C.