South Africa’s financial markets have recently been shaken by a controversial battle involving Mantengu Mining, Liberty Coal, and the Johannesburg Stock Exchange (JSE). Mantengu has accused the JSE and Liberty Coal of participating in or enabling alleged share price manipulation that, according to the company, damaged its market value and disrupted its strategic plans. In turn, the JSE...

The Johannesburg Stock Exchange (JSE), Africa’s largest and most influential stock market, is no stranger to disputes between listed companies and regulators. However, the recent clash involving Mantengu Mining and Liberty Coal has attracted unusual attention. Both companies have raised concerns over the JSE’s handling of alleged irregularities, sparking a debate about market...