Zimbabwe Stock Exchange To Reopen Next Week Though Without Some Companies

Finance Minister Professor Mthuli Ncube has said that the Zimbabwean Stock Exchange (ZSE) will be reopened next week.

He also observed that some big companies on the market, Old Mutual, PPC Zimbabwe and Seed Co. will be excluded from the market “for the time being”.

In a statement, Old Mutual said they were engaging authorities to ensure that Old Mutual is reinstated on the market. Read the statement emailed to ZBC News:

We are working with the authorities to explore ways to handle the listing of OML so that the OMIR does not continue to create the concerns raised in the recent past.

Old Mutual supports the stability and development of the economies where it operates.

The ZSE was suspended on June 28 together with mobile money platforms – Econet’s Ecocash, NetOne’s One Money and Telecel’s Telecash amid reports that the platforms were fuelling illegal foreign currency dealing in the country.

The parallel market was being accused of contributing to the rapid depreciation of the Zimbabwe dollar that was reintroduced last year.

More: ZBC News

 

 

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