Scholars argue that a share market existed as far back as ancient Rome where organisations of contractors performed temple-building and other services for the government. Participants in such organisations had partes or shares, which were tradeable instruments with fluctuating values based on an organisation’s success.

The earliest record of financial traders date back to 12th-century France, whilst in the middle of the 13th century, Venetian bankers began trading in government securities.

Founded in 1602, the Dutch East India Company was the first joint stock company, formed to build up the spice trade. Although the company was tightly controlled by its directors, ordinary shareholders were paid an average dividend of over 16% per year from 1602 to 1650, which provided for robust trade in the shares of the company. From the first formal
stock market which developed in Amsterdam, there are now stock markets in virtually every developed and developing economy in the world.

In South Africa, the discovery of gold on the Witwatersrand led to many mining and financial companies opening and soon thereafter a stock exchange, was established in 1887. Since that time, the need has developed for ordinary South Africans to access investment opportunities that provide them with greater financial inclusion through an ability to transact shares quickly, cheaply and conveniently, even if they have never formally invested money or opened a bank account. ZAR X addresses this need, and also gives companies a flexible, transparent and affordable way to list their restricted or limited share offerings and other investment products.

ZAR X and South African Enterprise Development have entered into a partnership – each bringing together their respective capabilities and networks – to build the first new stock exchange in South Africa for nearly 130 years. South African Enterprise Development is a trusted advisor and partner in the growth journey of exceptional businesses such as

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