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JSE Top 40 Index

What is the JSE Top 40 Index?

The JSE Top 40 Index represents the 40 largest companies by market capitalisation that are available for public trading on the Johannesburg Stock Exchange (JSE) in South Africa. The JSE Top 40 Index is made up of 40 out of the roughly 400 shares listed on the JSE but it represents 80 percent of the total market cap of all JSE-listed companies.

The Top 10 stocks on the JSE Top 40 Index make up roughly 70 percent of the index by market capitalisation. The market cap of a company is the number of shares outstanding times the current share price.

The JSE Top 40 Index comprises companies that originate in South Africa and their headquarters are based in the country. It also contains subsidiary stocks from multi-national companies with representation in South Africa.

Choose your quick section of the JSE Top 40 below.

Our 10 Best Handpicked JSE Top 40 Revealed:

JSE Top 40 Index : Ranked by market capitalisation 2023

JSE CodeShareMarket cap
BTIBritish American Tobacco1,351,960,000,000
BHPBH Billiton843,650,000,000
AGLAnglo American742,740,000,000
SSWSibanye Stillwater174,730,000,000
ANGAngloGold Ashanti114,720,000,000
NHMNortham Platinum107,480,000,000
OMUOld Mutual62,580,000,000
NRPNEPI Rockcastle60,830,000,000
RNIReinet Investments56,430,000,000
MRPMr Price55,800,000,000


Name                    Prosus NV

JSE code               PRX

Sector                   Software and computer services

Prosus is a global consumer Internet group and one of the largest technology investors in the world. It is majority-owned by Naspers, a globally-diversified Internet group. Prosus is focused on building leading technology in the following sectors: online classifieds, online payments and financial services and food delivery.

Famous brands in its portfolio include Avito, Brainly, BYJU’S, Codecademy, eMAG, Honor, iFood, LazyPay, letgo, Meesho, Movile, OLX, PayU, Red Dot Payments, Remitly, SimilarWeb, SoloLearn, Swiggy, and Udemy.

Prosus is majority-owned by Naspers and the CEO of Naspers is Bob van Dijk (2014-). The South African headquarters for Prosus is based in Cape Town, South Africa.

The CEO of Prosus is Bob van Dijk (2014- ) and its headquarters are in Amsterdam, Netherlands


Name                    Anheuser-Busch InBev SA NV

JSE code               ANH

Sector                   Beverages

ABInBev is a publicly-traded company based in Belgium. Its primary listing is on Euronext, a stock exchange in Europe that operates markets in Amsterdam, Brussels, Dublin, Lisbon, London, Milan, Oslo and Paris. ABInBev has secondary listings on the JSE in South Africa, MEXBOL in Mexico and the NYSE in America.

ABInBev is a global brewing company that resulted from the merger between Belgium-based company Interbrew and Brazilian brewer AmBev which took place in 2004. It existed independently until the acquisition of Anheuser-Busch in 2008, which formed Anheuser-Busch.

ABInBev offers a diverse portfolio of over 500 beer brands. Famous ABInBev brands include Budweiser, Corona, Stella Artois, Castle, Castle Light, Hoegaarden and Leffe.

The CEO  of ABInBev is Carlos Alves de Brito (2008-) and its headquarters are in Leuven, Belgium.

British American Tobacco

Name                    British American Tobacco plc

JSE code               BTI

Sector                   Tobacco

British American Tobacco (BAT) is one of the world’s most famous consumer goods companies. It manufactures and distributes the largest nicotine and tobacco brands in the world and has factories in 48 countries.

BAT South Africa is the leading tobacco manufacturer in South Africa by market share. It has a strong heritage of more than 100 years in South Africa and is the only large-scale tobacco manufacture producing locally in South Africa.

BAT has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has a secondary listing on the Johannesburg Stock Exchange (JSE). BAT plc ordinary shares are also listed on the New York Stock Exchange in the form of American Depositary Shares.

The CEO of British American Tobacco is Jack Bowles (2019-) and its headquarters are in London, United Kingdom. The General Manager of BAT SA is Johnny Moloto.


Name                    Naspers Ltd

JSE code               NPN

Sector                   Software and computer services

Naspers is a global Internet group and one of the largest technology innovators and investors in the world. It was founded in 1915 and operates in over 80 countries.

Naspers runs or invests in some of the world’s leading Internet platforms. The two largest brands in its portfolio is Media24 and Takealot. Naspers also has sizeable investments in associate companies such as Prosus, Tencent, Mail.ru, MakeMyTrip and Delivery Hero. Naspers operates and invests in companies, countries and markets across the world with long-term growth potential

Naspers is listed on the Johannesburg Stock Exchange (JSE) and has an ADR listing on the London Stock Exchange. (LSE).

The CEO of Naspers is Bob van Dijk (2014-) and its headquarters are based in Cape Town, South Africa.


Name                    Compagnie Financière Richemont SA

JSE code               CFR

Sector                   Personal goods

Compagnie Financière Richemont SA is a regional subsidiary of one of the world’s leading luxury goods groups.

Richemont owns a portfolio of prestigious Maisons that are recognised for their excellence in jewelry, watches, fashion and accessories. They are renowned for their distinctive heritage, craftsmanship and creativity. The Richemont Group boasts having 25 Maisons and businesses and 2 247 monobrand boutiques.

Famous brands in the Richemont portfolio include Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC Schaffhausen and Montblanc. The Group’s unique portfolio also includes leading online distributors that are focused on expert curation and technological innovation to deliver the highest standards of service.

Richemont A shares are listed and traded on the SIX Swiss Exchange. Richemont South African Depository Receipts are traded on the JSE Securities Exchange South Africa.

The CEO of the Richemont Group is Jérôme Lambert (2018-) and its headquarters are based in Bellevue, Switzerland.


Name                    Glencore plc

JSE code               GLN

Sector                   Industrial Metals and Mining

Glencore is an Anglo-Swiss multinational commodity trading and mining company and one of the world’s largest globally-diversified natural resource companies. It was founded in the 1970s as a trading company and has grown to become a major producer and marketer of industrial metals and a global mining organisation. Glencore’s operations comprise around 150 mining and metallurgical sites and oil production assets.

The CEO of Glencore is Ivan Glasenberg (2002- ) and its headquarters are in Baar, Switzerland. Its oil and gas head office in London and its registered office in Saint Helier, Jersey.

BHP Billiton

Name                    BHP Group plc

JSE code               BHP

Sector                   Industrial metals and mining

BHP Billiton is a world-leading resources company involved in the extraction and processing of minerals, oils and gas. Its primary operations are in Australia and the Americas.

Minerals mined in Australia include copper, iron ore, coal and nickel. Minerals mined in the Americas include copper, zinc, iron ore, coal and potash. The BHP petroleum unit comprises conventional oil and gas operations, and includes exploration, development, production and marketing activities in the United States, Australia, Trinidad and Tobago.

The CEO of BH Group plc is Mike Henry (2020-) and its headquarters are in Melbourne, Australia.

Anglo American

Name                    Anglo American plc

JSE code               AGL

Sector                   Industrial metals and mining

Anglo American is a leading global mining company with a world-class portfolio of mining and processing operations and undeveloped resources. The mining giant operates in 15 countries and is the world’s largest producer of platinum with around 40% of world output, as well as a major producer of diamonds, copper, nickel, iron ore and metallurgical and thermal coal.

Anglo American Corporation was founded in 1917 by Sir Ernest Oppenheimer to exploit the gold fields of the East Rand in South Africa. Anglo American plc was formed in May 1999 through the combination of Anglo American Corporation of South Africa (AACSA) and Minorco.

The primary listing of Anglo American plc for ordinary shares is on the London Stock Exchange (LSE). It has secondary listings on the JSE in South Africa, the SWX in Switzerland, the BSE in Botswana and the NSE in Namibia. Over US$ 6 billion has been returned to shareholders since 2017.

The CEO of Anglo American plc is Mark Cutifani (2013-) and its headquarters are in London, United Kingdom. 


Name                    Anglo American Platinum Ltd

JSE code               AMS

Sector                   Precious Metals and Mining

Anglo American Platinum Limited is the world’s largest primary producer of platinum, accounting for about 38% of the world’s annual supply.

The products Amplats produces reside in three distinct areas: Platinum Group metals (platinum, palladium, rhodium, iridium, ruthenium, osmium); base metals (copper, nickel, cobalt sulphate, sodium sulphate, chrome) and precious metals (gold).

The CEO of Anglo American Platinum Ltd is Natascha Viljoen (2020- ) and its headquarters are in Johannesburg, South Africa.


Name                    FirstRand Ltd

JSE code               FSR

Sector                   Banks

FirstRand Ltd is a public company and registered bank controlling company. FirstRand Ltd. is the holding company of the FirstRand group of companies which offers a portfolio of integrated financial services businesses as well as a universal set of transactional, lending, investment and insurance products and services.

FirstRand Limited is the largest financial institution by market capitalisation in Africa. Leading companies in its portfolio include FNB, RMB, Wesbank, Direct Axis, Aldermore, MotoNovo, MotoAdvantage, Ashburton Investments and FCC.

First Rand Ltd has a primary listing on the Johannesburg Stock Exchange Ltd (JSE) and a secondary listing on the Namibian Stock Exchange (NSX). FirstRand Limited operates in South Africa, certain markets in sub-Saharan Africa, the UK and India.

The CEO of Firstrand Ltd is Alan Pullinger (2018-) and its headquarters are based in Johannesburg, South Africa. 


Name                    Vodacom Group Ltd

JSE code               VOD

Sector                   Telecommunications Service Providers

Vodacom is a leading African communications company providing a wide range of communication services, including mobile voice, messaging, data, financial and converged services to over 103 million (including Safaricom) customers.

Vodacom was founded in South Africa in 1993 in South Africa and has grown its mobile network business to include operations in Tanzania, the DRC, Mozambique, Lesotho and Kenya. Through Vodacom Business Africa (VBA), the group offers business managed services to enterprises in 32 countries. Vodacom is majority owned by Vodafone (64.5% holding), one of the world’s largest communications companies by revenue.

The CEO of Vodacom is Mohamed Shameel Aziz Joosub (2013- ) and its headquarters are based in Johannesburg, South Africa.


Name                    Standard Bank Group Ltd

JSE code               SBK

Sector                   Banks

Standard Bank of South Africa Limited is a South African financial services group and is Africa’s biggest lender by assets. The bank now known as Standard Bank was formed in 1862 as a South African subsidiary of the British overseas bank Standard Bank, under the name The Standard Bank of South Africa.

Standard Bank Group is a financial institution that offers banking and financial services to individuals, businesses, institutions and corporations in Africa and abroad. It offers transactional banking, saving, borrowing, lending, investment, insurance, risk management, wealth management and advisory services.

The CEO of Standard Bank of South Africa Ltd is Lungisa Fuzile (2018- ) and its headquarters are in Johannesburg, South Africa.


Name                    MTN Group Ltd

JSE code               MTN

Sector                   Telecommunications Service Providers

MTN Group Limited, formerly M-Cell, is a South African multi-national mobile telecommunications company, operating in many African and Asian countries. Its head office is in Johannesburg. Currently, MTN’s shares are undervalued.

Fund managers say the share price of MTN is undervalued and this may be a good time to invest the telecom company, citing growth in the mobile payments platform. In 2020, MTN lost more than 50% of its value on the JSE as a result of Covid-19 and exposure to oil-producing countries such as Nigeria. It has gained 99.7% since its low point in March 2020 which has put the company in the spotlight.

The CEO of MTN is Ralph Mupita (2020- ) and its headquarters are in Johannesburg, South Africa. 

Kumba Iron Ore

Name                    Kumba Iron Ore Ltd

JSE code               KIO

Sector                   Industrial Metals and Mining

Kumba Iron Ore is an iron-ore mining company in South Africa. It is the fourth largest iron-ore producer in the world and the largest in Africa. Kumba Iron Ore is a successor of Kumba Resources which was listed on the JSE in 2001. Kumba Resources was reorganized in November 2006 when coal and heavy minerals operations were spun off to newly-created companies Kumba Iron Ore and Exxaro Resources.

Kumba Iron Ore is one of the more successful divisions of Anglo American plc. Kumba Iron Ore exports 73% of its production to 30 major customers worldwide. Kumba Iron Ore Ltd. listed on the JSE in November 2006.

The CEO of Kumba Iron Ore is Themba Mkhwanazi (2016- ) and its headquarters are in Johannesburg, South Africa.


Name                    Capitec Bank Holdings Ltd

JSE code               CPI

Sector                   Banks

Capitec is the leading digital bank in South Africa. It provides an innovative banking solution called Global One which allows its almost 7 million customers to transact, save and access credit using remote banking. Capitec maintains 500 retail branches nationwide and its own or partnership ATMs.

Capitec was founded in 1999 and is registered as a bank controlling company. Capitec was listed in the Banks sector on the JSE in February 2002.

The CEO of Capitec is Gerrie Fourie (2014- ) and its headquarters are in Cape Town, South Africa. 


Name                    Impala Platinum Holdings Ltd

JSE code               IMP

Sector                   Precious Metals and Mining

Impala Platinum Holdings Limited or Implats is a South African holding company that owns several companies which operate mines that produce platinum and platinum group metals, as well as nickel, copper and cobalt. Its most significant mine is the Impala mine in the North West province of South Africa.

Implats also owns or has interest in the Two Rivers mine and the Marula mine in the South Africa Bushveld Igneous Complex and the Mimosa mine and Zimplats in Zimbabwe, as well as the Impala Refining Services which smelts and refines metals for other companies. In December 2019, Impala Canada was formed, owned by the holding company, out of the acquisition of North American Palladium and its mine in Ontario, Canada.

Implats was founded in 1966 as a subsidiary of Union Corporation, which established a platinum mine in Rustenburg, South Africa. Implats has a listing on the JSE Limited (JSE) in South Africa and a level 1 American Depositary Receipt programme in the United States of America.

The CEO of Implats is Nico Muller (2018- ) and its headquarters are in Johannesburg, South Africa. 


Name                    Mondi plc

JSE code               MNP

Sector                   General Industrials

Mondi plc is a British multinational packaging and paper group with around 100 production sites across more than 30 countries, predominantly in Europe, Russia, North America and South Africa.

Mondi was founded in 1967 in South Africa and is fully integrated across the packaging and paper value chain, which includes managing forests; producing pulp, paper and plastic films; and developing and manufacturing effective industrial and consumer packaging solutions.

Mondi has a premium listing on the London Stock Exchange (MNDI), and a secondary listing on the JSE Ltd. (MNP). Mondi is a FTSE 100 constituent and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.

The CEO of Mondi is Andrew King (2020- ) and its headquarters are in Addlestone, United Kingdom. 

Sibanye Stillwater

Name                    Sibanye Stillwater Ltd

JSE code               SSW

Sector                   Precious Metals and Mining

Sibanye Stillwater is a leading international precious metals mining company with a diverse portfolio of platinum group metal operations in the United States and Southern Africa as well as gold operations and projects in South Africa, and copper, gold and precious group metal exploration properties in North and South America.

Sibanye Stillwater is the world’s largest primary producer of platinum, the second-largest primary producer of palladium and a top-tier gold producer. Sibanye Stillwater ranks third globally on a gold-equivalent basis and is also  a significant producer of rhodium and other precious group metals and associated minerals such as chrome.

Sibanye Stillwater is also a global leading recycler and processor of spent precious group metals catalytic converter materials.

The CEO of Sibanye Stillwater is Neal John Froneman (2013- ) and its headquarters are in Johannesburg, South Africa. 


Name                    Sanlam Ltd

JSE code               SLM

Sector                   Life Insurance

Sanlam Ltd is one of the largest established financial services groups in South Africa. Sanlam was founded in 1918 and the group demutualised in 1998. Sanlam is listed on the Johannesburg Securities Exchange (JSE) and the Namibian Stock Exchange (NSE). The group has business interests around the world in Africa, Europe, United Kingdom and India, the USA and Australia.

The CEO of Sanlam Ltd is Paul Hanratty (2020- ) and its headquarters are in Cape Town, South Africa. 


Name                    South32 Ltd

JSE code               S32

Sector                   Industrial Metals and Mining

South32 is a global mining and metals company. South32 produces bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc at operations in Australia, southern Africa and South America. The mining company has a focus on growing base metals exposure and has opened up two development options in North America and several partnerships with junior explorers around the world.

South32 is a leading global company and is listed on three securities exchanges; in Australia, South Africa and South America.

The CEO of South32 is Graham Kerr (2015- ) and its headquarters are in Perth, Australia.


Name                    Sasol Ltd

JSE code               SOL

Sector                   Chemicals

Sasol Limited is a fully integrated energy and chemical company in South Africa. The company was founded in 1950 in Sasolburg, South Africa and built on processes that were first developed by German chemists and engineers in the early 1900s.

Today, Sasol develops and commercialises technologies, including synthetic fuels technologies, and produces different liquid fuels, chemicals and electricity. Sasol is listed on the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE).

Major Sasol shareholders include the South African Government Employees Pension Fund, Industrial Development Corporation of South Africa Limited (IDC), Allan Gray Investment Counsel, Coronation Fund Managers and Investec Asset Management. Sasol has operations in 33 countries. It is the largest corporate taxpayer in South Africa.

The CEO of Sasol Ltd is Fleetwood Grobler (2019- ) and its headquarters are in Johannesburg, South Africa.

Gold Fields

Name                    Gold Fields Ltd

JSE code               GFI

Sector                   Precious metals and mining

Gold Files Limited is a diversified gold producer with nine operating mines in South Africa, West Africa (Ghana), Australia and the Americas (Peru) as well as one project in Chile. Growth efforts are focused mainly in the regions where it currently operates and are mainly driven through brownfields exploration on its existing land positions and through mergers and acquisitions in the same regions.

In 2012, Gold Fields Limited unbundled its subsidiary, GFI Mining South Africa Proprietary Limited which was then renamed Sibanye Gold Limited. It consists of the KDC (formerly Kloof) and Beatrix mines, as well as an array of support service entities in South Africa. The three mines transferred from Gold Fields Ltd to Sibanye, later Sibanye-Stillwater, were Beatrix gold mine, Kloof gold mine and Driefontein gold mine.

Gold Fields has a primary listing on the Johannesburg Stock Exchange (JSE) in South Africa and a secondary listing on the New York Stock Exchange (NYSE) in the USA.

The CEO of Gold Fields Limited is Chris Griffith (2021-) and its headquarters are in Johannesburg, South Africa.

AngloGold Ashanti

Name                    AngloGold Ashanti Ltd

JSE code               ANG

Sector                   Precious metals and mining

AngloGold Ashanti Ltd is a global gold mining company with a diverse, high-quality portfolio of operations, projects and exploration activities across ten countries on four continents. The mining giant is the third-largest gold producer globally and the largest on the African continent.

Gold is the principal product mined and processed by AngloGold Ashanti but international mining operations also oversee the production of silver in Argentina and sulphuric acid in Brazil.

AngloAmerican Ashanti is listed on the JSE in South Africa, the NYSE in America, the ASX in Australia and the GSE in Ghana. AngloAmerican Ashanti (ANG) is included in the JSE Top 40 Index, the S&P Global CSA, the FTSE/JSE Responsible Investment Index Series (the FTSE4Good Index), the Responsible Mining Index and the Bloomberg 2023 Gender-Equality Index.

The CEO of AngloAmerican Ashanti is Kelvin Dushnisky (2018-) and its headquarters are in Johannesburg, South Africa. 


Name                    Absa Group Ltd

JSE code               ABG

Sector                   Banks

Absa Group Limited – and originally Amalgamated Banks of South Africa – is a leading banking group in South Africa. ABSA offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance.

Absa was founded in 1991 through the merger of financial service providers United Bank (South Africa), the Allied Bank (South Africa), the Volkskas Bank Group and certain interests of the Sage Group. In 1992, Absa acquired the entire shareholding of the Bankorp Group which included Trustbank, Senbank and Bankfin. Absa adopted a new corporate identity to bring all silo brands under one umbrella and the name was changed into Absa Group Limited.

The CEO of Absa Group Limited is Daniel Mminele (2020- ) and its headquarters are in Johannesburg, South Africa. 

Northam Platinum

Name                    Northam Platinum Limited

JSE code               NHM

Sector                   Precious Metals and Mining

Northam Platinum Ltd is a leading producer of platinum group metals (PGMs). The primary operations Of Northam Platinum are centered on two wholly-owned mines, Zondereinde and Booysendal. Northam Platinum also has metallurgical operations at Zondereinde, including a smelter and base metals removal plant.

Northam Platinum is listed on the JSE, trading under the equity issuer share code NHM, ISIN code ZAE000030912 and in respect of the domestic medium-term note (DMTN) programme, under the debt issuer.

The CEO OF Northam Platinum is Paul Dunne (2014- ) and its headquarters are in Johannesburg, South Africa. 


Name                    Bid Corporation Ltd

JSE code               BID

Sector                   Personal Care, Drug and Grocery Stores

Bid Corporation Ltd (Bidcorp) is an international foodservice group and is present in developed and developing economies in all continents except North America and Antarctica. Bidcorp manufactures and distributes frozen and chilled products for the catering and food service sector.

The founding Group was established in 1988 by Brian Joffe and listed on the Johannesburg Stock Exchange (JSE) in 1990. Bid Corp Ltd separated from Bidvest and listed on the JSE in 2016. The unbundling provides Bidvest shareholders with the opportunity to participate directly in Bidcorp’s foodservice operations and it enables each of the businesses entities to achieve their respective strategic goals.

The CEO of Bidcorp is Bernard Larry Berson (2016- ) and its headquarters are in Johannesburg, South Africa. 

Shoprite & Checkers

Name                    Shoprite Holdings Ltd

JSE code               SHP

Sector                   Personal Care, Drug and Grocery Stores

The Shoprite & Checkers Group is Africa’s largest food retailer. It was founded in 1979 and today, it operates around 3 000 stores in 14 countries across Africa, with a focus on South Africa, Botswana and Namibia.

The Shoprite & Checkers Group is made up of wholly-owned subsidiaries and constitutes the largest fast-moving consumer goods retail operation in Africa. Shoprite & Checkers products and services range from basic to upper-end food and furniture to pharmaceuticals and financial services.

The Shoprite & Checkers Group consists of Shoprite supermarkets, Checkers Supermarkets, Checkers Hypers, Usave stores and furniture outlets, including OK Furniture, OK Power Express, and House & Home. The Shoprite Group also operates MediRite Pharmacies and LiquorShops.

The CEO of Shoprite Holdings Ltd is Pieter Engelbrecht (2017- ) and its headquarters are in Cape Town, South Africa. 


Name                    Discovery Ltd

JSE code               DSY

Sector                   Life Insurance

Discovery Limited is a South African-founded diversified financial services organisation that operates in managed care and administration of medical schemes, life insurance, long-term savings and investments, short-term and business insurance, banking and behaviour-change programmes. Discovery Limited was founded in 1992.

A core business entity is Discovery Health which is South Africa’s leading medical scheme administrator and managed care provider. The business has a market share of over 40% in the overall medical scheme market in South Africa.

The CEO of Discovery Limited is Alan Gore (1999- ) and its headquarters are in Johannesburg, South Africa. 


Name                    Nedbank Group Ltd

JSE code               NED

Sector                   Banks

Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management and wealth management. Nedbank Limited is a wholly-owned subsidiary of Nedbank Group. Nedbank’s primary market is South Africa.

Nedbank Group is one of South Africa’s four largest banking enterprises. The Group’s principle banking subsidiary is Nedbank Limited which was founded in 1888 in Amsterdam as the Nederlandsche Bank en Credietvereeniging voor Zuid-Afrika (“Dutch Bank and Credit Union for South Africa”).

Nedbank Group offers the following solutions through its frontline clusters; Nedbank Corporate and Investment Banking, Nedbank Retail and Business Banking, Nedbank Wealth and Nedbank Africa Regions.

The CEO of Nedbank Group Limited is Mike Brown (2010- ) and its headquarters are in Johannesburg, South Africa. 


Name                    Aspen Pharmacare Holdings Ltd

JSE code               APN

Sector                   Pharmaceuticals and Biotechnology

Aspen Pharmacare Holdings Limited is a South African-based global specialty pharmaceutical company with a commercial footprint covering more than 50 countries. Aspen also has complex manufacturing capabilities in both API and finished dose form.

Aspen Pharmacare focuses on a broad range of post-patent, branded medicines and domestic brands spanning many therapeutic areas. The Group’s Commercial Pharmaceuticals business comprises Sterile Focus and Regional Brands.

Aspen has invested in strategically relevant manufacturing capacity and has capabilities across biological and chemical APIs, orals, liquids, topicals and sterile products at 23 manufacturing facilities on 6 continents.

The CEO of Aspen Pharmacare is Stephen Bradley Saad (2000- ) and its headquarters are in Durban, South Africa.


Name                    Pepkor Holdings Ltd

JSE code               PPH

Sector                   Retailers

Pepkor is a South African-based investment and holding company with business interests in Africa, Australia, United Kingdom, Poland, Romania, Slovakia, and New Zealand. The original Pep Stores was founded in 1965. Today, Pepkor manages a portfolio of retail chains focused on the value market selling predominantly clothing, footwear and textiles under the PEP brand name.

The Pepkor Group is a diversified company operating in four segments of retailing. All the retail brands within the segments cover retail clothing, general merchandise, household goods, furniture, appliances, consumer electronics, building materials, cellular products and services and financial services.

PEP stores are present in Angola, Botswana, eSwatini, Lesotho, Malawi, Mozambique, Namibia, Nigeria, South Africa and Zambia.

The CEO of Pepkor Holdings Limited is Leon Lourens (2017- ) and its headquarters are in Cape Town, South Africa. 


Name                    The Bidvest Group Ltd

JSE code               BVT

Sector                   General Industrials

The Bidvest Group Limited is a leading business-to-business, services, trading and distribution group operating in the areas of consumer and industrial products, electrical products, financial services, freight management, office and print solutions, outsourced hard and soft services, travel and aviation services and automotive retailing.

The Bidvest Group Limited was founded in 1988 by Brian Joffe and listed on the Johannesburg Stock Exchange in 1990. In May 2016, its food services division was unbundled from the Group to form the Bidcorp Group.

The CEO of The Bidvest Group Limited is Nompumelelo Thembekile Madisa (2020- ) and its headquarters are in Johannesburg, South Africa.

Old Mutual

Name                    Old Mutual Ltd

JSE code               OMU

Sector                   Life Insurance

Old Mutual Limited is a leading pan-African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries. Old Mutual Limited is an investment, savings, insurance, and banking group.

Old Mutual was established in Cape Town in 1845 as South Africa’s first mutual life insurance company. It is listed on the Johannesburg Stock Exchange, Zimbabwe, Namibia and Botswana Stock Exchanges. The insurance and investment company is present in South Africa, Botswana, eSwatini, Ghana, Kenya, Malawi, Namibia, Nigeria, Rwanda, South Sudan, Tanzania, Uganda and Zimbabwe and China.

The CEO of Old Mutual Limited is Iain Williamson (2020- ) and its headquarters are in Cape Town, South Africa.


Name                    Remgro Limited

JSE code               REM

Sector                   Investment Banking and Brokerage Services

Remgro Limited is an investment holding company. Its interests consist mainly of investments in consumer products; banking; healthcare; insurance; industrial; infrastructure as well as media and sport.

Remgro was established in 2000 after the restructuring of the former Rembrandt Group Ltd. Remgro traces its roots from Voorbrand Tobacco Company (renamed Rembrandt Trust in 1948) that was founded in the 1940s by Dr Anton Rupert.

The company’s activities are concentrated mainly on the management of investments and the provision of support rather than on being involved in the day-to-day management of business units of investees. Non-subsidiary investments comprise both listed and unlisted companies not controlled by Old Mutual Limited and which are mostly associated companies due to significant influence and board representation.

The CEO of Remgro Limited is  Jannie Durand (2012- ) and its headquarters are in Stellenbosch, South Africa.

NEPI Rockcastle

Name                    NEPI Rockcastle plc

JSE code               NRP

Sector                   Real Estate Investment and Services

NEPI Rockcastle is the premier owner and operator of shopping centres in Central and Eastern Europe (CEE). It has a presence in nine countries and an investment portfolio of EUR5.8 billion in real estate assets. NEPI Rockcastle pursues CEE property opportunities efficiently and benefits from a strategic advantage in the acquisition, development and management of properties.

NEPI Rockcastle’s shares are listed on the Johannesburg Stock Exchange (“JSE”), Euronext Amsterdam (“Euronext”) and A2X. The Group voluntarily distributes at least 90% of its distributable earnings on a semi-annual basis.

The CEO of NEPI Rockcastle is Alexandru Morar (2018- ). It has corporate offices in 12 jurisdictions where it has properties. 


Name                    Clicks Group Ltd

JSE code               CLS

Sector                   Personal Care, Drug and Grocery Stores

Clicks Group is a retail-led healthcare group which has been listed on the JSE Limited since 1996. Through market-leading retail brands Clicks, GNC, The Body Shop and Claire’s, the group has over 840 stores across southern Africa.

Clicks Group is a leader in the healthcare market where Clicks has the largest retail pharmacy chain with over 600 in-store pharmacies. United Pharmaceutical Distributors (UPD) is South Africa’s leading full-range national pharmaceutical wholesaler.

The CEO of Clicks Group Ltd is Vikesh Ramsunder (2019- ) and its headquarters are in Cape Town, South Africa.


Name                    Woolworths Holdings Ltd

JSE code               WHL

Sector                   Retailers

Woolworths Holdings Ltd is a southern hemisphere retail Group with operations conducted through major operating subsidiaries, namely Woolworths South Africa, David Jones and Country Road Group. A further joint venture operation, Woolworths Financial Services offers financial products to its customers.

Woolworths Holdings Limited has grown into a leading retail group with a strong presence in sub-Saharan Africa, Australia and New Zealand.

The CEO of Woolworths Holdings Limited is Roy Bagattini (2020- ) and its headquarters are in Cape Town, South Africa. 


Name                    Exxaro Resources Ltd

JSE code               EXX

Sector                   Oil, Gas and Coal

Exxaro, a public company incorporated in South Africa and listed on the JSE. Exxaro is a large South African-based diversified resources group with interests in the coal, TiO2, ferrous and energy markets. The company was formerly known as Kumba Resources Limited and changed its name to Exxaro Resources Limited in November 2006.

Exxaro has established in 2000. It has established itself as one of South Africa’s largest black-empowered resource companies. Exxaro is among the top five coal producers in South Africa, and a constituent of the JSE Top 40 index. Exxaro is also included in the FTSE/JSE Responsible Investment Top 30 index.

Exxaro operates facilities and offices in Africa, Asia, Europe and Australia. The mine targets zero waste emissions, zero effluent, wash-to-zero and sustainable engineering.

The CEO of Exxaro Resources Limited is Mxolisi Mgojo (2016- ) and its headquarters are in Pretoria, South Africa. 

Reinet Investments

Name                    Reinet Investments SCA

JSE code               RNI

Sector                   Investment Banking and Brokerage Services

Reinet Investments SCA. is a Luxembourg-based investment vehicle that was demerged from the Swiss luxury goods company Richemont in 2008. It is listed on the Luxembourg Stock Exchange (LSE) and in 2020 was the third-largest component of the LuxX Index.

Reinet Investments SCA was established when the former Richemont SA changed its legal form to that of a partnership limited by shares and adopted the name Reinet Investments SCA. At the same time as it changed its legal status, Richemont SA redeemed its ordinary capital which was held exclusively by Compagnie Financière Richemont SA (‘CFR’), by way of the distribution to CFR of its entire luxury goods interests.

In consequence, CFR became a specifically focused luxury goods company and Reinet was established as an investment vehicle, the principal asset of which was the former Richemont’s interest in British American Tobacco.

The CEO OF Reinet Investments SCA is Wilhelm van Zyl (2015- ) and its headquarters are in Luxembourg.

Mr Price

Name                    Mr Price Group Ltd

JSE code               MRP

Sector                   Retailers

Mr Price Group Ltd is a cash-based, omni-channel, fashion-value retailer targeting a wide range of customers in the mid to upper LSM categories. Mr Price retails own-branded merchandise and predominantly trades in South Africa

Mr Price was founded in 1985 when Laurie Chiappini and Stewart Cohen opened the first Mr Price factory shop in Klerksdorp. Mr Price is now a major retailer offering fashionable clothing, footwear, cosmetics and accessories as well as differentiated merchandise to ladies, men and kids.

The CEO of Mr Price is Mark Blair (2019- ) and its headquarters are in Durban, South Africa.

What is the Johannesburg Stock Exchange (JSE)?

The Johannesburg Stock Exchange (JSE) is the largest stock exchange in Africa and is the dominant exchange in South Africa. As of August 2020, the market capitalisation of the JSE was at US$1,005 billion.

The JSE was founded in 1887 by Benjamin Minors Woollan during the first gold rush when many mining and financial companies started operations on the Witwatersrand and the need for a stock exchange arose.

Following the first legislation covering financial markets in 1947, the JSE joined the World Federation of Exchanges in 1963 and upgraded to an electronic trading system in the early 1990s. The bourse demutualised and listed on its own exchange in 2005.

In 2003, JSE launched an alternative exchange called AltX for small and mid-sized listings, followed by Yield X for interest rate and currency instruments. The JSE then acquired the South African Futures Exchange (SAFEX) in 2001 and the Bond Exchange of South Africa (BESA) in 2009. Today, the JSE offers five financial markets, namely Equities, Bonds, Financial, Commodity and Interest Rate derivatives.

For almost 130 years, the JSE was the only stock exchange in South Africa that the public could access to for buy and sell company shares. There are now four other competitor stock exchanges in the country: ZARX, A2X, 4AX and EESE. The JSE is the dominant stock exchange in South Africa, although the other four exchanges are nibbling away at its market share.

The average man-in-the-street cannot deal directly with a stock exchange. They have to go through a middleman. This will either be an asset management company, an electronic trading platform hosted by an independent broker or direct through a stock broker who buys and sells publicly-traded shares on your behalf.

ICB Supersector Breakdown

ICB codeICB SupersectorNo consNet Mcap (ZARm)Wgt %
5510Basic Resources92,567,66535.02
4020Consumer products and service1850,26411.6
4520Personal Care Drug and Grocery Stores4272,9273.72
5020Industrial Goods and Services2245,1753.34
4510Food Beverage and Tobacco1137,1091.87
3020Financial Services2102,3361.4
3510Real Estate288,0171.2
2010Health Care161,2900.84
Totals 417,331,240100.00


Index universe                  FTSE/JSE All-Share Index

Index launch                     24 June 2002

Base value                           10300.31

Investability screen         Actual free float applied and liquidity screened

Index calculation              Real-time and end-of-day indices available

End-of-day distribution Via FTP and email

Currency                              ZAR

Review dates                     March, June, September and December

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