Zimbabwe Stock Exchange plans to list on own bourse
TLDR
- Zimbabwe Stock Exchange (ZSE) to list on its bourse for improved capital access and brand visibility.
- ZSE, established in 1896, plays a vital role in Zimbabwe's capital markets with 40+ listed equities.
- ZSE's move expected to have significant market implications and marks a historic milestone.
The Zimbabwe Stock Exchange (ZSE) plans to list on its bourse in the coming year, a strategic move aimed at securing better access to risk-adjusted capital and enhancing its brand visibility.
According to ZSE board chairperson Caroline Sandura, this development marks a significant milestone in the exchange's history and is expected to have far-reaching implications for the market.
Formed in 1896, the ZSE is the backbone of Zimbabwe's capital markets, with over 40 listed equities. It also owns the Victoria Falls Stock Exchange (VFEX), which exclusively trades in United States dollars.
Key Takeaways
Currently, there are three exchanges in Zimbabwe: the ZSE, VFEX, and the Financial Securities Exchange. In the trading year of 2023, the ZSE Allshare Index, which serves as the comprehensive gauge of the exchange’s performance, experienced a remarkable 981.54% increase, concluding the year at 210,833.92 points. This substantial surge was primarily driven by the overall uptrend in local prices, as the ZSE predominantly operates in local currency. In real terms, the returns on the ZSE were positive when compared to the official exchange rate, which depreciated by 792%. Conversely, the VFEX Allshare Index declined by 28.86% throughout 2023, ultimately closing at 70.48%.
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