The Johannesburg Stock Exchange (JSE) will donate fees derived from all asset classes traded over two days in mid-April to the country’s Covid-19 Solidarity Fund, as part of a new campaign titled #Trade4Solidarity.
President Cyril Ramaphosa announced the Solidarity Fund on March 23, shortly before the national lockdown kicked in, to unite the nation in action against the coronavirus crisis.
The fund is a rapid response vehicle to fund initiatives that will bolster national health response contributions to humanitarian efforts.
Announcing the launch of #Trade4Solidarity campaign, JSE Group CEO Leila Fourie said JSE staff and the executive team felt this was a tangible way to answer the president’s call to #PlayYourPart.
#Trade4Solidarity encourages market participants to join the JSE by contributing a portion of their trading revenues to the fund.
“How we respond to this pandemic has been our greatest Thuma Mina moment, not just for us, but for the country,” Fourie says.
To mark the occasion, Fourie and Solidary Fund chairperson Gloria Serobe will host the JSE’s first virtual market opening as the market begins to #Trade4Solidarity on Wednesday April 15.
Capital Markets director Valdene Reddy says: “We have seen companies pivot to making hand sanitisers and face masks; individuals, corporates and consortiums making meaningful contributions where required.
“#Trade4Solidarity allows us to make our own contribution to what is the greatest public health crisis this world has witnessed in recent history.”Capital Markets director Valdene Reddy
Fourie also announced that the JSE would continue to support its suppliers, service providers and contractors during the lockdown, and would not suspend contractor services at this critical time.
“We all have to do our bit; we have to support each other so we can ensure that job losses are kept to a minimum – and that salaries are paid at the end of the month.”
“This is another tangible way in which we believe we can help, so I encourage everyone in the trading community where possible to join the call and stand together with us as we support the Solidarity Fund to make a difference.”
The JSE is Africa’s largest stock exchange and has been in operation for 130 years.