Bond Exchange of South Africa (BESA)
What was the Bond Exchange of South Africa (BESA)?
The Bond Exchange of South Africa (BESA) was the principle debt market in South Africa from 1996 from 1996 to 2009, when it was bought by the Johannesburg Stock Exchange (JSE). It is now known as the JSE debt market.
Where have you heard about the Bond Exchange of South Africa?
If you have taken a long-term interest in investing in South Africa, you may have heard of the BESA prior to its name change. Investment guides may refer to it, especially if they were published before the JSE takeover.
What you need to know about the Bond Exchange of South Africa (BESA).
The BESA operated from 1996 to its purchase by the JSE in 2009 for 240 million rand ($18.5 million). Today, the JSE notes its successor, the JSE debt market, has "roughly 1, 600 listed debt instruments", adding: "More than half of the debt listed on the JSE is placed by the South African government. Other issuers include South African state-owned companies, corporates, banks and other African countries." It says the market is liquid and well-developed in terms of participants. It is the largest debt market in Africa in terms of both market capitalisation and liquidity. After the takeover, the Johannesburg Stock Exchange and the JSE Securities Exchange jointly changed their names to JSE Ltd.