UBS gets approval to expand SP offering in South Africa

The Swiss bank UBS is gearing up to expand its product range in the biggest African market, South Africa, after receiving approval from the country’s stock exchange regulator to raise ZAR3bn ($280m) on the Johannesburg Stock Exchange (JSE). UBS will issue any structured products under this first programme through its London branch. Aveshen Pillay, equity cash and derivative sales associate director at UBS South Africa, told SRP that the bank’s goal is to open a new structured products platform