Understanding the JSE’s delisting trend: Progress or crisis?

THERE has been a mixed response to the trends of declining company listings and increasing delistings on the Johannesburg Stock Exchange (JSE).

- NANGA KWINANA

THERE has been a mixed response to the trends of declining company listings and increasing delistings on the Johannesburg Stock Exchange, says the author. I SUPPLIED

(I SUPPLIED)

Some commentators have expressed apprehension about the seemingly high rate of delistings, fearing that this might signal a loss of confidence in the economy. Others have been upbeat, noting that new and prospective listings, particularly in the technology sector, point to pockets of energy and renewal. In October 2025, it was announced that Optasia had listed on the Main Board of the JSE. Blu Label Unlimited also announced its intention to list Cell C Holdings on the JSE's Main Board.

As always, context is key. What happens to stock markets in South Africa and the rest of Africa cannot be divorced from global industry trends ~ although there is sometimes a lag.

An ongoing global trend among very large corporates is consolidation and focus as they seek to strengthen their positions in shifting markets. Anglo American, which has had a secondary listing on the JSE since 1999, is a good example of this, having made a strategic shift from gold and platinum towards copper, crop nutrients and premium iron ore assets.

This was the context for the Anglo demerger that led to the establishment of Valterra Platinum (whom Bowmans represented). Not long afterwards, Anglo and Canadian mining company Teck Resources (whom Bowmans also represented) announced their plans to merge and form Anglo Teck, with more than 70% exposure to copper and the rest mainly to iron ore.