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The Reserve Bank of Zimbabwe has slashed interest rates by 50 percentage points and increased the portion of earnings that exporters can keep in foreign currency, in new monetary policy measures announced by central bank governor John Mangudya yesterday. Here are highlights from the policy measures: Interest rates Interest rates have been cut from 200%
ZIMBABWE Stock Exchange (ZSE) chief executive officer (CEO), Justin Bgoni, remains defiant that the growing “exodus” of companies from the ZSE to the Victoria Falls Stock Exchange (VFEX) will not lead to the demise of Africa’s fourth oldest stock exchange. The development mirrors dynamics across other key sectors of the economy. Amid rapid dollarisation of…
LEADING asset management firm, Imara Capital Zimbabwe, has warned local companies to be cautious before migrating to the United States dollar-denominated Victoria Falls Stock Exchange (VFEX) that is faced with liquidity challenges. The VFEX, which is a wholly-owned subsidiary of the Zimbabwe Stock Exchange, was launched towards the end of 2020 setting the tone for…
ZIMBABWE’S largest milling and food processing company, National Foods Limited (NFL) has officially listed on the Victoria Falls Stock Exchange (VFEX), becoming the eighth issuer on the foreign currency-denominated bourse. VFEX is the only exchange in Africa trading in the United States dollars and was established as a pioneering offshore financial services centre by Government…
FBC Securities said the outlook was promising, and more counters were likely to list this year, joining eight counters already trading stock on the bourse.