For the most part, society usually frowns at people who like blowing their own horn – after all, it is up to other people to praise you on a job well done.
That’s all fair and well, but this does not apply at the Johannesburg Stock Exchange.
Since 2002, The Johannesburg Stock Exchange has established a tradition of extending the privilege of symbolically opening the market to celebrate different milestones that companies manage to accomplish.
These milestones could be, new listing, the launch of new product lines or celebrating a successful financial year.
This event takes place in front of the wallboard at JSE, where the market open time is counted down and is marked by the sounding of the kudu horn.
It is believed that the louder the horn is blown, the better the stock price will perform.
The Kudu horn was specifically chosen for its uniqueness and ties to Southern Africa, as South Africans are really big on nature and the Kudu is a great representation of that culture.
Much like the JSE, other stock exchanges around the globe have similar symbolic events to mark company milestones.
For instance, New York has a bell. In Brazil, executives herald listings with a giant buzzer. In Hong Kong and Shanghai exchanges, they strike a gong.