Presenting the 2017 national budget, Finance Minister Patrick Chinamsa said that starting next year, Government’s thrust will be on improving competitiveness of the Zimbabwe Stock Exchange to attract foreign investments, especially having knowledge of the stiff competition from other African exchanges, also bidding to attract the investors.
Chinamasa also said that foreign purchases plunged 51 percent to $55 million in the 10 months to October from $111 million in the same period last year. Said Chinamasa:
The Zimbabwe Stock Exchange (ZSE) continued to experience challenges during 2016, as investors exited the bourse against the background of cash and liquidity challenges, weak aggregate demand and reduced business confidence. The slump in stock market activity saw turnover for the 10 months to 31 October down to $144,46 million, 29 percent lower compared to the same period in 2015.