The Johannesburg Stock Exchange Ltd (JSE) has entered a transaction with Globacap Technology Limited, a UK fintech company, to progress a digital private placements platform and registry services. JSE will leverage Globacap’s unique distributed ledger technology that reflects digital registrar services in real-time.
JSE says that the private placements platform will advance and digitize capital raising for infrastructure finance and SMEs. Leila Fourie said that the transaction is in line with the bourse commitment to inclusive and sustainable growth.
As part of the transaction, JSE will invest GBP4 million for a minority stake in Globacap funded from the group’s cash reserves. Both parties expect the transaction to be finalized in the first quarter of 2021 subject to approval by relevant local and UK authorities.
In addition, the deal supports a critical growth node across Africa in the infrastructure and SME sectors by advancing access to capital markets. JSE hope to fill in African infrastructure funding needs estimated to range from $130-170 billion annually.
Globacap is a leading private placement and capital management platform that digitally administers over £1 billion of private shares and debt instruments for 60 companies and over 8000 shareholders in 35 countries.
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