Johannesburg, 3 March 2023: JSE Investor Services (JIS), a wholly-owned subsidiary of the Johannesburg Stock Exchange (JSE), is pleased to announce the launch of its centralised BEE Verification platform.
The BEE Verification Platform is an electronic solution that provides a streamlined process for individual shareholders to verify themselves on a ‘once-off’ basis, eliminating multiple verifications for BEE purposes when buying and selling BEE shares. In addition, the platform also affords stockbrokers and listed companies the ability to search the central BEE verification platform database for BEE verifications of shareholders to enable trade on various BEE share schemes on offer on the JSE.
“The notorious challenge in BEE verification has been the administrative burden of having to continuously verify individuals for BEE purposes. So, we are thrilled to have brought to market an innovative solution where verification happens only once for individuals, ensuring the ease of doing business and investment into BEE schemes. It is our continued focus to unlock solutions that bring value to our clients, as well as improve overall efficiency for market participants,” says Carol Crozier, CEO of JIS.
JIS has vast experience in BEE verification and is the appointed transfer secretary and BEE verification agent for some of the largest BEE schemes, managing both listed and unlisted companies. JIS also maintains the share registers of listed and unlisted companies, including JSE Top 40 companies. With the continued expansion of its client base, JIS’ market share has now grown to 29%, up from 20% at acquisition in 2020.
To find out more about the new JIS BEE Verification platform, please click here.
ABOUT THE JSE
The Johannesburg Stock Exchange (JSE) has a well-established history of operating as a marketplace for trading financial products. It is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world-class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself as being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent.
The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation and is the largest stock exchange in Africa, having been in operation for 135 years.
As a leading global exchange, the JSE co-creates unlocks value and makes real connections happen.
With over 2,5 million shareholder records under management, JSE Investment Services (JIS) is a leading, and experienced provider of share registry management, custodial services, shareholder management and analytics, as well as stakeholder engagement.
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