Latest news with #LeilaFourie
Daily Maverick
4 days ago
- Business
- Daily Maverick
The JSE 100 000 points milestone that broke our market table
Unfortunately, automating the market table that goes into the Business Maverick morning newsletter was not the best idea, because technology is not immune to error when history is made. We apologise and have overengineered a solution to make sure it doesn't happen again. Remember Y2K? The Business Maverick team certainly does now. As eagle-eyed readers might have noticed, there was something wonky (sorry, it was just wrong) with the market report in our newsletter this morning. The FTSE/JSE All Share Index (ALSI) was showing as a rather pedestrian 179.80 points instead of its actual, history-making 100,179.80 points. The Yahoo Finance API that feeds our market data threw a digital tantrum when the JSE ALSI crossed the 100,000-point threshold for the first time in its 65-year history on Wednesday, 23 July 2025. Like those infamous millennium computers that couldn't cope with the year 2000, our system essentially 'reset' when faced with numbers it had never seen before. It's a fitting technological hiccup for what is genuinely a historic moment. Against all odds Over that journey, the ALSI has delivered annualised returns of more than 11% – not too shabby for a market that's weathered apartheid, sanctions, global financial crises and more commodity cycles than a mining engineer's nightmares. 'This milestone reflects the resilience, innovation and operational excellence of companies listed on the JSE,' Leila Fourie, group CEO of the JSE said in a statement, clearly having a better day than our data systems. And she has every right to crow. In 2025, the JSE has positioned itself among the best-performing markets globally in both dollar and rand terms. The ALSI now represents 125 listed companies with a combined market capitalisation of R21-trillion, capturing 99% of the eligible market capitalisation on the JSE Main Board. It's a trusted benchmark that has shown robust long-term growth since 2002, when it was redefined through a partnership with the FTSE. But before we get too carried away with the champagne and celebration, it's worth noting that this milestone comes against a backdrop of some serious structural challenges. The JSE may be hitting record highs, but it's doing so with significantly fewer players on the field. By June last year there were fewer than 300 listed companies. The competition conundrum Kearabilwe Nonyana, head of Scope Prime Africa for B2B, highlighted the drop in listings in an interview with Daily Maverick this week and he is quick to point out flaws in the JSE's competitive landscape. 'There's a lack of competition locally in terms of access specifically to local markets and our local exchange,' he says, referencing the execution costs that are 'quite exorbitant' for retail investors who have 'always gotten the shorter end of that stick'. The technological lag is particularly painful. Nonyana recounts instances where South African brokerages, comfortable in their monopoly over the industry, made clients trade over an Excel spreadsheet. The listing requirements themselves have become the ultimate barriers to entry for new businesses, often pushing companies to remain private and diverting potential listings to private equity. In 2022, the exchange did make moves to change listing requirements in an effort to encourage more listings. Now in 2025, the JSE is playing catch-up in innovative spaces like cryptocurrency ETFs, where Nonyana says it needs to come to the party and lead rather than follow. 'South Africa's relatively small population of 60-odd million people also creates challenges in achieving the economies of scale that larger markets enjoy.' It's hard to compete on cost when your addressable market is a fraction of what Brazil or other emerging markets can offer. Spread the good news Before you start planning the JSE's funeral, consider this: the exchange has some genuine competitive advantages that shouldn't be underestimated. The resurgence in dual-listed companies is creating interesting opportunities. 'These listings allow South African institutions to access international businesses on local boards without using their foreign investment allowance, while giving global investors access to African assets,' Nonyana explains. When the London Stock Exchange is open and the JSE is closed, trading can continue – a neat trick that extends market hours naturally. The global reach of South African companies is often overlooked. 'JSE-listed companies have tentacles worldwide – gold miners with operations in Canada and Papua New Guinea, Naspers/Prosus with stakes in Tencent and European assets,' he says. South African Breweries grew from a local player into a global giant before being acquired by AB InBev. These aren't provincial companies; they're global players that happen to call Johannesburg home. Then there are the 'crown jewels' – Nonyana is referring to South Africa's natural resources. Gold, platinum (still in supply deficit) and copper (the 'AI metal' with a projected supply deficit by 2035) remain compelling draws. Add significant energy resources from natural gas and oil explorations off both coasts, and you have a resource base that most countries would kill for. The bottom line The JSE's journey to 100,000 points is remarkable – a thousand-fold increase over 65 years that reflects genuine economic value creation and corporate resilience. Yes, there are fewer listed companies than before, and yes, the competitive environment has challenges that need addressing urgently. But dismissing the JSE because of the exodus misses the bigger picture. This is still the largest stock exchange in Africa, operating for 137 years and ranked among the top 20 globally by market capitalisation. The companies that remain are often global players with diversified operations and strong fundamentals.
Eyewitness News
5 days ago
- Business
- Eyewitness News
FTSE/JSE All Share Index achieves historic 100,000-point milestone
Rafiq Wagiet 23 July 2025 | 17:14 The Money Show Stephen Grootes Johannesburg Stock Exchange (JSE) Picture: Pixabay Stephen Grootes interviews Leila Fourie, CEO of the JSE, to unpack the significance of the all share index breaking through the historic 100,000-point mark. Listen to the interview in the audio player below. The Johannesburg Stock Exchange (JSE) reached a major milestone on Wednesday, with the FTSE/JSE All Share Index (ALSI) hitting 100,000 points, 1,000 times its starting level of 100 points in January 1960. Over the past 65 years, the ALSI has delivered annualised returns exceeding 11%, despite a very topsy-turvy economy, withstanding the global economic crisis in the mid-2000's, as well as the impacted on the Covid-19 pandemic. The FTSE/JSE All Share Index (ALSI) began its journey in 1960 at just 100 points. Over the decades, it has weathered global shocks and economic shifts and has been bolstered by commodity booms and resilient corporate earnings, steadily climbing to close at a historic 100,180… — JSE (@JSE_Group) July 23, 2025 Between 2020-2025, the index rebounded strongly from the lows of the pandemic, largely driven by commodity booms in gold and platinum, resilient corporate earnings and improved investor sentiment. Key sectors like mining, banking and technology fueled gains, while structural reforms and fiscal stability underpinned the JSE's rise as a gateway to African markets. Speaking to Stephen Grootes on The Money Show, Leila Fourie, CEO of the JSE says this feat reflects index's resilience and its role as a barometer of South Africa's economic potential. "It really is an important psychological point, and if you look at the growth trajectory over the past couple of decades. We started this index with 100 points in 1960, and over the last 65 years its delivered returns of about 11%. - Leila Fourie, CEO - JSE "...it comes a year after the GNU was really demonstrates a very material upswing." - Leila Fourie, CEO - JSE "...we started in a mining field, in a tent. Some of the biggest drivers of our economy was mining, which retracted a little bit, and now mining is indeed some of the big drivers in our current 100,000-point mark. - Leila Fourie, CEO - JSE Scroll to the top of the article to listen to the full interview.
IOL News
5 days ago
- Business
- IOL News
JSE marks 100 000 points on FTSE/JSE All Share Index in historic achievement
Leila Fourie, Group CEO of the JSE, said reaching 100 000 points on the ALSI was not just a numerical milestone but a powerful reflection of the resilience, innovation and operational excellence of companies listed on the Image: Nicola Mawson / Independent Newspapers The Johannesburg Stock Exchange (JSE) reached a monumental threshold on Wednesday as the FTSE/JSE All Share Index (ALSI) celebrated its ascent to 100 000 points for the first time ever. This remarkable figure is not just a testament to numerical achievement; it symbolises a prosperous evolution since the index began at just 100 points in January 1960, marking a staggering increase of 1 000 times over the past 65 years. The index's annualised returns have exceeded 11%, underscoring the resilience of South Africa's capital markets and positioning the JSE as one of the best-performing markets globally in both US dollar and rand terms for the year 2025. The bourse has been breaking records since the year began as it started 2025 on a high above 84 000 index points. By 11am on Wednesday, the ALSI was 1.2% high to 100 504 index points. Leila Fourie, Group CEO of the JSE, said reaching 100 000 points on the ALSI was not just a numerical milestone but a powerful reflection of the resilience, innovation and operational excellence of companies listed on the JSE. 'This landmark demonstrates that investors continue to place their trust in the South African market and in the ability of our listed companies to drive growth and deliver value,' Fourie said. 'As the JSE, we are proud to provide a platform that enables capital raising, fuels economic expansion and creates opportunities for wealth creation across society.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for 137 years. Elaborating on the development of the index, Mark Randall, director of information services, noted that the ALSI was redefined in 2002 through a strategic partnership with global index provider FTSE. Randall said the adoption of modern methodologies, such as free float weighting and a stable universe of 160 companies, transformed the index into a comprehensive snapshot of South Africa's market landscape. 'Today, the index represents 125 listed companies on the JSE with a combined market capitalisation of R21 trillion, spanning a diverse range of sectors and geographies. While the ALSI does not include every listed company, it remains a trusted benchmark, capturing 99% of the eligible market capitalisation on the JSE Main Board,' Randall said. 'It distils the daily performance of large, mid, and small-cap stocks into a single, accessible figure visible across media platforms and financial tickers, underscoring the strength of South Africa's equity market and the JSE's role as a gateway to African investment.' Since 2002, the ALSI has demonstrated robust long-term growth, successfully navigating global crises and fluctuations in commodity prices to achieve this historic milestone in 2025. The past five years, in particular, proved dynamic, as the index rebounded strongly from the lows of the pandemic. The resurgence was driven by booming commodities—gold and platinum, resilient corporate earnings, and a newfound optimism among investors. Key sectors, such as mining, banking and technology, contributed substantially to these gains, supported by structural reforms and fiscal stability, underscoring the JSE's position as a gateway to the African markets. The JSE reiterated its dedication to providing a transparent, efficient and secure platform for issuers and investors alike, further cementing its position as the gateway to African capital markets. 'We remain committed to advancing market development, improving access to capital for businesses of all sizes and ensuring that our exchange continues to evolve in line with international standards,' Fourie said. 'This milestone is a reminder of the important role the JSE plays in enabling companies to grow, innovate and create jobs, which ultimately benefits the broader economy.' BUSINESS REPORT
The Citizen
5 days ago
- Business
- The Citizen
JSE All Share Index hit 100k points
The All Share Index is like a scoreboard for the JSE, displaying the performance of all the major companies listed collectively. The Johannesburg Stock Exchange (JSE) All Share Index (ALSI) hit 100 000 points on Wednesday, which is 1 000 times higher than its starting value of 100 points in January 1960. JSE ALSI is a premier stock market index, tracking the performance of all listed companies on the JSE. It's a capitalisation-weighted index that includes companies from various sectors, such as mining, finance, retail and telecommunications. In simple terms, it is like a scoreboard for the JSE, displaying the performance of all the major companies listed collectively. ALSO READ: Investing in JSE shares: What you need to know JSE ALSI 65-year journey Leila Fourie, Group CEO of the JSE, says reaching 100 000 points shows that investors keep placing their trust in the South African market and in the ability of the listed companies to drive growth and deliver value. 'Over its 65-year journey, the ALSI has delivered annualised returns of over 11%, reflecting the resilience and growth of South Africa's capital markets. '2025 has positioned the JSE among the best-performing markets in the world in dollar and rand terms.' Purpose of JSE ALSI Mark Randall, Director of Information Services, notes that the index represents 125 listed companies on the JSE with a combined market capitalisation of R21 trillion, spanning a diverse range of sectors and geographies. ALSO READ: R4.5 billion in unclaimed dividends: JSE urges South Africans to check if they are owed 'While the ALSI does not include every listed company, it remains a trusted benchmark, capturing 99% of the eligible market capitalisation on the JSE Main Board.' Randall says the JSE ALSI distils the daily performance of large, mid, and small-cap stocks into a single, accessible figure visible across media platforms and financial tickers, underscoring the strength of South Africa's equity market and the JSE's role as a gateway to African investment. Past five years He explains that the years 2020 to 2025 were particularly dynamic, with the index rebounding strongly from pandemic lows, driven by commodity booms (gold, platinum), resilient corporate earnings and improved investor sentiment. 'Key sectors like mining, banking and technology fueled gains, while structural reforms and fiscal stability underpinned the JSE's rise as a gateway to African markets. This feat reflects both the index's resilience and its role as a barometer of South Africa's economic potential.' NOW READ: JSE reaches a new high
IOL News
19-07-2025
- Business
- IOL News
Point of view: JSE warns of deepfake videos impersonating financial leaders
South Africans are facing a new wave of online scams involving deepfake videos that impersonate trusted financial figures. The JSE has issued a warning, urging the public to remain vigilant and informed about these fraudulent schemes. Image: Nicola Mawson / Independent Newspapers South Africans are no strangers to online scams. From dodgy emails promising instant riches to fake investment groups on WhatsApp, we've seen them all. But a new scam is doing the rounds that should have everyone on high alert. This time, it's not just fake profiles or phony schemes. It's deepfake videos, disturbingly realistic clips using artificial intelligence to impersonate some of the most trusted figures in the country's financial sector. The Johannesburg Stock Exchange (JSE) has issued an urgent warning after videos began circulating on Facebook and other platforms, falsely featuring their Group CEO, Dr Leila Fourie, and Mark Randall, Director of Information Services. In these manipulated clips, the executives appear to be promoting fraudulent investment schemes. They are not. These videos are complete fabrications, designed to mislead and defraud the public. Let's be absolutely clear: these videos are scams. They are not endorsed by the JSE, and the people featured in them have had their likenesses and voices digitally manipulated without consent. It's a chilling reminder of how sophisticated digital fraud has become, and just how vulnerable everyday South Africans are if we're not paying attention. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The JSE is working with social media platforms to have the videos removed, but once this sort of content is out there, it's difficult to contain. The responsibility, then, doesn't just lie with the platforms or the regulators. It also lies with us, the public. We need to be sharper, more cautious, and far less trusting of unsolicited messages or investment offers online. Here's what everyone needs to know: no one at the JSE – not the CEO, not directors, not employees – will ever give you investment advice. Not in person, not via email, and certainly not over WhatsApp, Telegram, or Facebook. The JSE does not operate on those platforms, nor does it request personal information or financial contributions via social media. If someone is using the JSE's name or logo in a WhatsApp or Telegram group, that's a major red flag. You should leave the group immediately and report it. If you're serious about investing, there's only one safe route: through a verified JSE member or broker. The full list of authorised brokers is available on the official JSE website ( under the 'Find a Broker' section. If it's not on that list, it's not legit. And while we're on the topic, the rise of these deepfake scams also highlights the broader challenge of misinformation in our digital age. With AI tools becoming more accessible, it's now possible for bad actors to create convincing fake content that can easily trick even the most cautious among us. If someone seems too confident, too convincing, or too insistent that you invest now, that should set off alarm bells. To help the public stay informed, the JSE has also set up a Fraud and Scams Prevention section on its website, which is updated regularly. It's worth checking out, especially if you've received suspicious messages or seen unusual social media activity related to the JSE. The public is also encouraged to report suspicious activity directly to the JSE via email at info@ or ipfraud@ or by calling 011 520 7000. At the end of the day, the best defence against scams is education. Talk to your friends, your parents, your colleagues. Share this information widely. The more people know, the harder it becomes for scammers to succeed. We can't stop scammers from trying – but we can stop them from succeeding. Stay informed. Stay sceptical. And most importantly, stay safe. * Maleke is the editor of Personal Finance. PERSONAL FINANCE
