JSE seeks to raise money in support of the COVID-19 Solidarity Fund

The Johannesburg Stock Exchange (JSE) has taken a significant step in supporting the fight against the COVID-19 pandemic by donating its fees derived from all asset classes traded on Wednesday, April 15th and Thursday, April 16th to the Solidarity Fund. This initiative is part of the JSE's broader campaign to contribute to the national effort in combating the spread of the virus and supporting those most affected by the crisis. Leila Fourie, the Group CEO of the JSE, shared insights on the impact of the pandemic on the financial markets and the resilience displayed by the exchange during these challenging times. The JSE has shown remarkable resilience in the face of unprecedented challenges brought about by the global health crisis. Despite facing operational complexities and unique problems, such as the inability of listed entities to disclose their results and valuation challenges, the JSE has managed to navigate through the crisis effectively. Working closely with regulators and auditors, the JSE has extended the disclosure deadlines for financial reporting to accommodate the current volatile and uncertain market conditions. Market participants have demonstrated unity and collaboration in ensuring the continuity of operations, with no market closures or settlement crises reported. This stability and cooperation have helped mitigate the impact of the crisis on pension fund holders and investors, whose portfolios have experienced significant declines in value. The long-term effects on pension fund holders remain a concern, as many have seen a substantial decrease in the value of their investments. The uncertainty surrounding the duration and extent of the economic fallout from the pandemic poses challenges for forecasting the future trajectory of financial markets. The slow pace of recovery observed in previous crises, such as the Great Depression, raises questions about the timeline for returning to pre-pandemic levels of economic activity. Emerging markets, including South Africa, face additional challenges due to the lack of a commodity boom as a safe haven investment option. However, the high yields offered by emerging markets may attract investor interest once risk appetite stabilizes and global markets begin to normalize. Restoring business confidence and encouraging capital investment will be crucial in driving economic recovery and fostering growth in financial markets. The resilience and adaptability demonstrated by the JSE and other market participants during these challenging times highlight the importance of unity and collaboration in overcoming shared obstacles.