Zimbabwe Stock Exchange Investors Lose $1 Billion In 1 Week

Investors on the Zimbabwe Stock exchange have lost a cumulative $1 billion in the week leading to 15 March 2020 mainly due to the effects of the COVID-19 pandemic, The Herald reports.

According to the publication, during the period under review:

Total market value retreated 1,47 percent to $60 billion compared to $61 billion recorded in the previous week dragged by losses in the market’s big cap counters.

The primary indicator, the ZSE All Share Index, gained a marginal 1,13 percent to close at 468,94 points while the ZSE Top 10 Index put on 1,74 percent to 390,27 points.

At 405,34 points, the ZSE Top 15 Index was 1,27 percent above prior week while the Small Cap paced the fastest with a 4,39 percent increase to 1 297 points.

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Investors in many parts of the world have also incurred huge losses due to uncertainties posed by the pandemic. The World Bank has also announced that Sub Saharian Africa will likely see a 2.4% decline in economic growth due to the pandemic that has killed close 150 000 people.

More: The Herald