Senwes lists on additional stock exchange ZAR X

Senwes lists on additional stock exchange ZAR X

Senwes is one of South Africa’s largest integrated agribusinesses and one of the world’s largest providers of white maize. Its 60 silo complexes allowed storage of 25% of South Africa’s grain output, according to a Senwes statement.

Listing on ZAR X was consistent with the company’s operating strategy, according to Francois Strydom, Senwes Group CEO.

“Being the first to list on South Africa’s new stock exchange reflects our ethos of innovation in order to benefit our stakeholders and the country in general,” he said.

The listing breaks new ground the South African business landscape, according to Etienne Nel, ZAR X CEO.

In the past investors have been hesitant to in invest in agriculture because the industry’s vulnerability to conditions, such as climate change, that are difficult to control.

However, ZAR X’s reduces the complexities associated with listing, making it attractive for agri businesses that would otherwise not consider listing.

According to Nel, consumers are becoming more health and socially conscious. They are increasingly concerned about what they eat and where and how it is produced.

Agriculture also has a major role to play economically, as most countries’ largest employer, as well as in developing and supporting local infrastructure and conserving the environment. As a result, agriculture is becoming an important asset class for investors.

“ZAR X is the only stock exchange in Africa to offer real time settlement, by means of which funds and shares are received immediately after transacting. This reduces trading risk for buyers and sellers alike and promotes liquidity,” he said.