Almost half of the companies which make up the JSE’s Top 40 are now majority owned by foreigners. Only eight of the Top 40, mainly the smaller companies in the JSE’s key index, are more than 75% owned by South Africans.

This data, compiled from a comprehensive analysis of the Top 40’s South African shareholders by TimBukOne.com, provides a reality check to politicians who are preaching nationalisation – and those spreading propaganda about JSE company ownership being weighted towards “whites”.

In recent years, Corporate South Africa has moved aggressively into the global arena. The lion’s share of the Top 40’s profit is now earned outside of the country’s borders. And along with growing profit, the companies have also worked hard at telling their story to offshore investors, resulting in a surge in foreign ownership.

During the first ten months of 2015, fresh investment by foreigners in the Top 40 exceeds R100bn. Steinhoff accounts for the lion’s share of this new portfolio investment with a R40bn net increase in the foreign ownership of its shares. Around two thirds of this increase was via existing offshore shareholders in Pepkor being added to the Steinhoff register after its’s R63bn acquisition, which took effect in February.

http://www.biznews.com/sa-investing/2015/12/02/foreign-shareholders-now-control-almost-half-the-jses-top-40-companies/