Bloomberg
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 its largest trading partner, South Africa.
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.
Timothy Marks
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.
By Alois Vinga
THIS year’s annual Zimbabwe Finance Conference (ZFC) slated to take place Wednesday is set to urge Diasporans to channel their remittances towards long term developmental projects in their home country.
The conference will be held virtually.
Speaking to NewZimbabwe.com Tuesday, the Financial Markets Indaba managing director, Patrick Muzondo said the event will urge Diasporans to invest strategically while attracting foreign investors.
“As we target international investors to tap into the country’s opportunities, the conference will also equip Zimbabweans in the diaspora to channel remittances for non-consumption needs in favour of long term investments. Research evidence in our possession shows that Zimbabwe’s economy has abundant opportunities which need to be taken up,” he said.
All is set for the Zimbabwe Finance Online Conference that will be co-hosted by the Financial Markets Indaba (FMI) and Business Weekly.
The conference to be held on May 5, 2021, will bring together experts in the banking and financial services sectors discussing the challenges and prospects in those sectors.
Industry decision makers, regulators, international financial institutions, global investment banks, development banks, Zimbabwe banks, institutional Investors, and world class FinTech providers will participate at the conference.
“Zimbabwe Finance Online Conference is dedicated to showcasing the growth and commercial opportunities in Zimbabwe’s developing banking and financial services sector.
“The Conference is being held virtually and will draw together innovative financial institutions from Zimbabwe, Africa and around the world, keen to unlock opportunities in Zimbabwe’s developing financial ecosystem,” said conference coordinator and FMI executive director Patr
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