Townships are getting their own Stock Exchanges...

[DieWerner]

JOHANNESBURG - As of February next year, investors and local based entrepreneurs can look forward to a township stock exchange which Premier David Makhura says will help formalise and transform that economy to the tune of an estimated R10 billion per annum.

The Ivory Park community hall was packed yesterday for a dialogue attended by MEC of Economic Development Lebogang Maile, Finance MEC Barbara Creecy and entrepreneurs from townships across the province.

 

Makhura says it’s part of the provincial governments township economy revitalisation strategy to mainstream the township economy.

Chairperson of 4 Africa Exchange Chichi Maponya says the informal township economy worth billions is often sidelined by the main stream and the township stock exchange seeks to address this.

 

“The stock exchange is geared for the retail market which means it is the ordinary consumers and it’s because currently there are barriers to entry.”

 

She says the board of six members so far are currently looking for businesses to list.

 

“It’s just been licensed at the end of August after a long process and public comment process.”

 

Premier Makhura says R6 billion has been budgeted for township-based businesses.

 

 

 

Source: http://ewn.co.za/2016/10/21/Township-stock-exchange-to-become-reality-in-February

[Purply]

And then in typical South African fashion nothing happened.

[Noobly]

And then in typical South African fashion nothing happened.

 

What happened to this?

 

What is the company who would act as this exchange?

 

I remember seeing this in the news a year or so back.