Argon enlisting marks SA markets transformation

Thapelo Magoro, co-CEO at Argon Securities and Nicky Newton-King, CEO at the Johannesburg Stock Exchange

Thapelo Magoro (Left), co-CEO at Argon Securities and Nicky Newton-King, CEO at the Johannesburg Stock Exchange

By MTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – THE Johannesburg Stock Exchange (JSE) has welcomed black-owned brokerage firm, Argon Securities, as one of its members.
The move highlights plans to transform the South African capital markets industry.
“We are very excited to welcome Argon Securities to the JSE and we hope to see many more 100 percent black owned member firms joining the JSE in the future,” said Zeona Jacobs, Director of Marketing and Corporate Affairs at the JSE.
It is anticipated transforming and growing the South African stock broking industry will create more accessibility and encourage more black businesses and investors to enter the country’s capital markets and lead to the transformation of both the sector and the eco-system.
Thapelo Magoro, co-Chief Executive Officer at Argon Securities, said their market research and strategy objective was to build a stockbroking firm rooted in global best practice, while maintaining meaningful participant in the market and transformation journey of the country.
“We received our licence in December 2016. It’s taken us over a year to get here, and we believe that the journey was worth it,” Magoro said.
As part of its contribution to transformation in financial markets, the JSE last year introduced an Enterprise Development Programme, which provides financial assistance to emerging black stockbroking firms.
The programme disbursed approximately R6 million (US$460 000) to participating firms in 2016, who used the funds in various different ways to grow their businesses. – CAJ News

Short URL: http://cajnewsafrica.com/?p=21338

Posted by on Jul 20 2017. Filed under Finance & Banking, Investing. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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