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The UN SSE initiative welcomes Cape Town Stock Exchange

The UN Sustainable Stock Exchange initiative welcomes Cape Town Stock Exchange (CTSE) as a new member. CTSE has solidified its commitment to transparency and sustainability by becoming a partner exchange of the UN Sustainable Stock Exchanges initiative. The SSE’s newest partner joins a network of now 118 stock exchanges around the world that are committed to promoting sustainable development.

The SSE works with stock exchanges through technical assistance, consensus building, and research to contribute to the achievement of the United Nations Sustainable Development Goals (SDGs) and to stimulate investment for a sustainable future. Exchanges around the world partner with the SSE to work towards a common objective of fostering financial markets that support the growth of sustainable and responsible business practices.

"The Cape Town Stock Exchange's (CTSE) voluntary commitment to a sustainable and transparent economy through joining the SSE is a strategic achievement which complements our impact goal of financial inclusion and reducing inequalities through technology and financing innovation with a specific focus on Small-and Medium Enterprises," said Eugene Booysen, CEO of CTSE. "We hope to add to the conversation, supporting SSE initiatives and promoting sustainable finance in South African and the rest of Africa."

The Cape Town Stock Exchange (CTSE) is South Africa’s stock exchange for small- and medium-sized businesses. They aim at growth companies looking to build up both the South African and broader African economies. CTSE is one of the exchanges in South Africa with a license to list both equity and debt.

The SSE and Small and Medium Sized Enterprises

The companies listed on stock exchanges come from all economic sectors: services, manufacturing, mining and information technology. They generate revenues that pay salaries, buy goods and services from other companies, pay taxes and return dividends to shareholders. Small and medium-size enterprises (SMEs) form a large proportion of companies and employers worldwide. According to the World Bank, SMEs provide at least 45% of the jobs and 33% of the GDP in emerging economies alone. Although SMEs are important contributors to jobs and the growth of economies, they face signifcant constraints, including lack of access to finance.

Given the importance of SMEs to economies, a number of multilateral institutions, governments, policymakers and private sector actors across developed and developing markets are focused on addressing the SME financing gap. This has included a greater emphasis on the potential role of capital markets and stock exchanges in particular.

Today, 78 of the 120 stock exchanges tracked by the SSE have an SME listing platform. The SSE works with stock exchanges to advance SME development in their markets through donor-sponsored technical assistance. For more information, please contact the SSE team directly: [email protected]