The Johannesburg Stock Exchange (JSE) is hoping to expand its trading universe through an MoU with a Saudi-based stock exchange.

The deal with the Saudi Tadawul Group will see the two exchanges explore the possibility of dual listings, reports Moneyweb. In addition, the collaboration is expected to enable ‘client cross-selling engagements’ for secondary market trade activities and support new issuances.

JSE Group CEO Leila Fourie says the deal will help the exchange to develop new financial products, ‘building on the success of Africa’s first Shari’ah-compliant sustainability-linked sukuk and the issuance of rand-denominated Al-Ijarah sukuk certificates by the South African government’.

The JSE is also hoping to take advantage of the Saudis’ experience in the healthcare and medical insurance sectors, and investigate shared interests such as infrastructure investments in the renewable energy market.

7 May 2024
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