IN the face of weakening economic fundamentals in Zimbabwe, the Zimbabwe Stock Exchange (ZSE) has proved a safe haven for investors with the ZSE All Share Index surging 1046% in 2020. This has been carried over into 2021 as the local bourse sustained rallying momentum in the first week of February along with global shares, as the ZSE All Share Index edged 11,43% to close at an all-time-high of 4012,47 points. In 2021 so far, the market is up by over 55%, thanks to the second best January performance in a decade.
However, the past 24 months have seen no brand new listings of companies and an increase in the number of delistings. The pressures of Covid-19, the contraction of the economy by 4,1% in 2020, government interference with capital markets, high listing costs and a poor operating environment are some of the reasons ZSE listed firms have sought delisting. Furthermore, local companies have been pushed into amalgamations, unbundling and the pursuit of listings on alternative mark
More ZSE counters delist as economy weakens
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Investor Accuses SeedCo Major Shareholder Of Unfairly Freezing Out Locals
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Zimdollar faces fragile stability: Report
BY SHAME MAKOSHORI
ZIMBABWE’s currency will maintain a “fragile stability” this year, continuing from the volatilities that haunted the domestic unit even after the introduction of the foreign currency auction system in June, according to a report by Inter Horizon Securities (IH).
In a report titled Zimbabwe 2021 Equity Strategy, IH projected that there will be improved production and output this year, which will help the currency stand its ground.
“We observed a fragile stability in 2H20 (second half of 2020) in the local currency, in the absence of any drastic changes in fiscal and monetary policies, we believe the same fragile stability can be maintained in 2021,” said IH.
Zim dollar will maintain a stability this year report – The Zimbabwe Mail
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