JSE Opening shows Cape Town is open for business
The opening of the Johannesburg Stock Exchange’s Cape Town office sends a strong message to the world that the Western Cape and Cape Town is open for business.
Cape Town is the second largest economic centre in South Africa, and is becoming an increasingly important investment destination in South Africa. The City boasts sophisticated infrastructure that includes shipping access and represents an important gateway for both the country as well as the continent.
We also note that besides acknowledging that it has an important set of stakeholders in Cape Town, the JSE also recognizes that the Western Cape is setting itself apart from the rest of the country in the fields of the creative economy and technology. This has been identified as something the JSE would like to tap into.
While growing the economy and creating jobs is our number one priority, we are mindful of the fact that this can only be achieved if we, firstly, create an administrative and financial environment characterized by sound financial governance and, secondly, offer value to the business community.
Various independent assessments confirm that Cape Town, and the Western Cape, are well run and embrace the principles of good financial governance. This includes recent reports from Statistics SA, the Auditor General of South Africa 2013/2014 audit outcomes report, the MPAT Report of the Presidency’s Department of Monitoring and Evaluation, and the Ratings Africa Report. We are therefore well positioned to grow investment in the Western Cape.
The opening of the JSE Hub in Cape Town comes at the right time and is indeed a vote of confidence in the City of Cape Town and Western Cape.