South Africa’s first additional stock exchange in almost 60 years, ZAR X has launched its operations with the listing of integrated agri-business, Senwes and it’s holding company, Senwesbel.
Senwes is a provider of white maize, with its 60 silo complexes enabling the storage of 25% of South Africa’s grain output.
The 108-year old company focuses on input supply, financial, equipment, and precision farming services, and market access that includes grain handling, secure storage, and marketing. Its footprint covers the Northwest, Free State, Gauteng, Mpumalanga, KwaZulu-Natal, Eastern Cape, and Western Cape provinces.
The FSB Appeal Board earlier this month (9 February) dismissed the combined appeals of the JSE and 4AX against the granting of an exchange licence to ZAR X – allowing the company to proceed in opening a new stock exchange in the country.
The FSB had first issued ZAR X with a trading licence in August 2016. However pending the outcome of the FSB appeals, ZAR X postponed its intended September 2016 start date.