JSE CEO: We expect a better listing outlook in 2021

The Johannesburg Stock Exchange has reported a 19% rise in earnings before interest and tax depreciation and amortization for the year ended December 2020. The local boss reported a cash balance of 2.5 billion rand at the end of December. The JSE Board has declared a dividend of 725 cents per share, an increase of 5% from the prior comparative period. Leyla Fouri, the CEO at the JSE, joined CNBC Africa to discuss the impressive financial results and the future outlook for the stock exchange. Reflecting on the period of market volatility in 2020 that underpinned the earnings, Fouri expressed delight with the financial position of the JSE amidst uncertainty and economic pressure. She highlighted the JSE's cash-generating ability and resilience, emphasizing the importance of the core business supporting future growth. Fouri noted the successful delivery on acquisitions and the strategic plans to adapt to global trends and deliver value to shareholders. The acquisition of Global Cap, a FinTech company specializing in capital placements and infrastructure financing, was discussed in relation to South Africa's reliance on infrastructure investments post-COVID-19. Fouri highlighted the importance of technology trends and the need for agile, seamless, and responsive approaches for the JSE to stay competitive. Addressing the outlook for listings in 2021, Fouri acknowledged the global trend of listing contractions but expressed optimism for a better pipeline than the previous year. She commended the fiscal credibility demonstrated in the budget speech and highlighted the positive outlook despite economic challenges. The JSE is actively engaging with international markets to strengthen its position and build new opportunities for growth.