Transformation
The JSE has made significant progress on its transformation strategy, internally and externally, over the past five years. Notably, it has diversified the profile of its top management and senior management teams, increasing its representation of ACI and female employees.
Our transformation initiatives, focused on measurable impact, are aligned to the JSE’s priority United Nations Sustainable Development Goals. These aim to support stakeholders in our value chain and contribute to addressing key national agenda issues. This includes our financial support of Black-owned stockbrokers, our CSI spend, the annual SA Tomorrow Conferences to attract foreign investors, and engagements with government and regulators to support their programmes.
Some of our highlights this year includes:
- Achieved a Level 1 BBBEE status.
- Passed on R8.5 million in fee rebates to Black-owned stock broking firms.
- Achieved most of the targets of our three-year employment equity plan; with 93% of new appointments and 100% of promotions in 2023 being ACI candidates.
- Celebrated the JSE Investment Challenge 50th year anniversary with more than 170 000 learners participating since 1973.
We are proud of the strides we have made towards building an economically inclusive society and remain committed to building prosperity for our people and the communities where we operate.
Our BBBEE status
We are measured under the revised Financial Sector Charter and have achieved a Level 1 rating for 2023.
AQ Rate Proprietary Limited (AQ Rate), an independent South African National Accreditation System (SANAS) accredited verified the JSE scorecard and related support documents according to SANAS standards. You can download our latest BBBEE Compliance Report and BBBEE Certificate
Scorecard element
| 2021 | 2022 | 2023 | |
| Equity ownership | 16.18 | 16.97 | 18.27 |
| Management control | 17.83 | 18.91 | 18.60 |
| Skills development | 14.22 | 15.56 | 17.40 |
| Preferential procurement | 21.71 | 20.88 | 22.35 |
| Enterprise and supplier development | 13.17 | 11.13 | 13.03 |
| Socio-economic development and consumer education | 8.00 | 8.00 | 8.00 |
| Total | 91.11 | 91.45 | 97.65 |
Our transformation initiatives
Ownership
We aim to increase Black ownership of the JSE sustainably over time.
|
Black ownership statistics |
2021 |
2022 |
2023 |
|
Voting rights of Black people |
19.10% |
20.37% |
26,93% |
|
Voting rights of Black women |
8.37% |
8.93% |
12,48% |
|
Economic interest of Black people |
13.79% |
14.85% |
15,58% |
|
Economic interest of Black women |
5.22% |
5.63% |
6,05% |
Management control
We continue to build a transformed Board and Exco over time, focusing on employment equity appointments at the Exco level. Our employment equity programmes promote diversity and an equitable workplace. JSE has been monitoring progress against employment equity targets and we are progressing well towards achieving these.
Skills development
The JSE implements strategic talent management initiatives to upskill our Black employees. This includes a learnership programme for Black females living with disabilities. Various skills programmes are offered for our employees, including FASSET-funded initiatives such as the Wits Development Programme and International Women in Leadership.
Preferential procurement
Our procurement policy promotes preferential procurement practices that consider the BBBEE credentials of potential suppliers. Over the years we have seen an improvement in the number of suppliers that meet the BBBEE, Black and/or Black woman ownership, or exempt micro-enterprise and qualifying small enterprise criteria. Black-owned exempt micro-enterprise and qualifying small enterprises are further supported by 15-day payment terms to support their cash flow management.
Enterprise development
The JSE’s Black Stockbroker programme provides financial assistance to emerging black stockbroking firms to support them in sustainably growing their businesses. This is done through cash rebates from equity trading fees and application programme interface connectivity fees. Participants use the funds to develop their businesses by employing more resources or acquiring technology to enhance their customer proposition and productivity.
Supplier development
The JSE’s supplier development initiative helps Black-owned small and medium enterprises (SMEs) grow their businesses, expand their customer base, increase their turnover and profitability and scale their operations. These SMEs participate in our corporate supply chain.
Consumer education and socio-economic development
The JSE Investment Challenge is our flagship initiative for financial literacy. The challenge, which has run for the past 49 years, is a fun, interactive, online trading game aimed at introducing South African high school learners and university students to the world of finance and investments in JSE-listed instruments.
The JSE’s socio-economic development initiatives focus on education, healthcare, and skills and development for disadvantaged communities and are executed through registered not-for-profit organisations. This includes providing funding to learners from low-income families to pay for quality accredited qualifications at public colleges or universities. The JSE Empowerment Fund (JEF Trust) provides academically deserving black South African students with the finance and support to acquire appropriate qualifications for entering the financial services sector on completion of their university training.