South Africa looks to run small-cap stock market

Central Cape Town from Lions Head

QUOTE Africa Group, a Cape Town-based company with licences to operate stock markets in Namibia and the Seychelles, expects an application to start a South African bourse to be considered next year.

South African Financial Exchange, a unit of Quote Africa, planned a new market for venture capital and small and medium-sized companies, company director Francois Venter said in a statement yesterday.

This should boost “accessibility for local and international investors to South African companies by providing lower listing and transaction costs”.

The company said it had applied to the Financial Services Board (FSB) for an exchange licence two years ago. The application was expected to be heard before the appeal board of the FSB early next year, Quote Africa added.

via Quote Africa looks to run small-cap bourse – IOL Business | IOL.co.za.

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