4 Competitors That Want To Disrupt The Johannesburg Stock Exchange Monopoly

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Written by Dana Sanchez
Chichi Maponya, newly appointed board member of 4AX. Photo: destinyconnect
Chichi Maponya, newly appointed board member of 4AX. Photo: destinyconnect

4 Africa Exchange (4AX)

The 4 Africa Exchange, or 4AX, hopes to provide a platform for companies trading over-the-counter shares and issues that are part of South Africa’s black economic empowerment program.

4AX plans to be South Africa’s second licensed exchange, and had hopes to be trading by October 2015, Bloomberg, reported a year ago.

It hasn’t launched yet but in December announced the appointment of two leading South African businesswomen to its board. The new 4AX CEO is Fay Mukaddam, outgoing president of the Johannesburg Chamber of Commerce and Industry. Brand South Africa chairwoman Chichi Maponya has been appointed to the board, according to ENCA.

At least 20 companies that are part of South Africa’s black economic empowerment program are trading OTC, Bloomberg reported. They have a combined market capitalization of $1.7 billion, and at least eight of them expressed an interest in 4AX.