JSE remains open for business during lockdown

JSE remains open for business during lockdown

The largest stock exchange in Africa, the Johannesburg Stock Exchange (JSE), will be fully operational during the 21-day lockdown.


President Cyril Ramaphosa declared that the historic lockdown will come into effect at midnight on Thursday. 

JSE Group CEO Leila Fourie says more than 90% of staff are currently working from home. 

READ: Ramaphosa tests negative for coronavirus

"We have for three weeks been testing out staff members working remotely and more than 90% of our staff will be working remotely and only those essential individuals will be going into the office," says Fourie.

She adds all systems will operate as normal from Friday, the first morning of the lockdown.

"All market participants will be able to connect to the JSE and to trade, settle and will be able to regulate."

Fourie foresees more market volatility over the next few weeks, due to the global COVID-19 pandemic.

"What we are seeing is that investors are tending to prefer and opt for companies that have high cash balances at this stage and that is an important consideration. But I think ultimately investing in the exchange is a long term gain." concludes Fourie. 

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