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Zimbabwe to list bond on local bourse for the first time in 20 years
News24
07 May 2021, 05:41 GMT+10
Zimbabwe plans to list a bond on the local exchange for the first time in 20 years to raise funds for the expansion and upgrade of a main highway that links the country to South Africa, which is its largest trading partner.
The $250 million listing by the Infrastructure Development Bank of Zimbabwe will be the first note issuance on the Zimbabwe Stock Exchange since 2001, when municipal bonds with a government guarantee were listed, the bourse s chief executive officer, Justin Bgoni, said on Thursday.
A listing date has not yet been confirmed. Thomas Zondo Sakala, chief executive officer and Willing Zvirevo, director at IDBZ didn t immediately answer calls to their mobile phones seeking comment. In March, the lender said it will take three months to issue the infrastructure bond, as it canvasses for investor support.