Debt listing requirements to aid SOE transparency

Monday, October 1, 2018

National Treasury has been working closely with the Johannesburg Stock Exchange (JSE) on the recently released new debt listing requirements as part of bringing about more transparency at state owned enterprises.

“National Treasury has been working closely with the JSE to ensure that the new proposals bring about increased transparency and improved governance for SOEs [state owned enterprises] and complement government measures to strengthen SOE governance. SOE governance reform is at the centre of government’s efforts to reignite growth in the economy and combat corruption,” said Treasury on Monday.

The proposed requirements, which were released last week by the stock exchange, are aimed at ensuring increased transparency for state owned enterprises (SOEs).

The proposed measures include those on procurement stating that the issuer, if a quasi-governmental entity (most commonly provincial and local authorities/municipalities and state owned entities) must disclose its policy on the procurement of services and/or products (if it has one) on the applicant issuer’s website.

Among the requirements on domestic prominent influential persons, the applicant issuer must have a policy dealing with the disclosure and treatment of domestic prominent influential persons at board level of directors.

Further details on the requirements are available from the Johannesburg Stock Exchange https://www.jse.co.za/current-companies/issuer-regulation . - SAnews.gov.za

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