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This year, investors and local based entrepreneurs can look forward to a township stock exchange intended to formalise and transform the township economy. According to Premier, David Makhura, the economic boost will amount to an estimated R10 billion a year. The initiative forms part of the provincial government’s strategy to revitalize and mainstream the township economy. According to chairperson of 4 Africa Exchange, Chichi Maponya, even though 22
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the informal township economy is worth billions, mainstream business often fails to recognise its importance. The township stock exchange is designed to change this state of affairs. As Maponya explains, “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. The stock exchange was licensed at the end of August 2016 after a public comment process; the board of six has been looking for businesses to list.
Chichi Maponya
Image: African Business
Township Stock Exchange to come online
