For the third consecutive year, the regulation of South Africa’s securities exchanges has again been declared number one out of 144 countries included in the World Economic Forum (WEF)’s Global Competitiveness Survey. The country’s securities market regulators are the Johannesburg Stock Exchange and its regulator, the Financial Services Board (FSB).
Of the 144 countries ranked in the survey, South Africa was also ranked first in relation to auditing and reporting standards and the effectiveness of corporate boards. The country was ranked second in the protection of minority shareholders’ interests and soundness of banks categories as well as number three in terms of the ability to raise finance through the equity market.
“We are delighted by this accolade for South Africa, which indicates that the JSE is a secure and credible environment in which issuers are able to raise capital and investors are able to access the region’s growth opportunities,” says JSE CEO Nicky Newton-King. “What this means to us is that investors, big or small, can be confident of using the exchange. Together with the FSB, the exchange is focused on continuous improvements in the interests of issuers and investors.”
Overall, South Africa ranked number 52 in the survey, as it did last year.