Erratic economic policy, high inflation, and currency instability have for years discouraged foreign investment in Zimbabwe But economic fundamentals are improving and a new gold-backed local currency – the Zimbabwe Gold (ZiG) – has largely held its value this year In comparison, foreign investors accounted for over 40% of activity on the ZSE in the early 2010s The total market value, however, fell 3.08% to ZiG 62.64 billion, while the ZSE All Share Index declined 3.91% to close the quarter at 197.23 points
On the Victoria Falls Stock Exchange, a U.S dollar-denominated bourse designed to attract offshore capital, turnover reached $15 million in Q2, while market capitalisation slipped to $1.25 billion from $1.29 billion in the previous quarter Average foreign participation on the exchange stood at 18.73% An uptick in participation and turnover, alongside governance reforms like the ZSE’s self-listing earlier this month could lay the groundwork for further recovery in the second half of the year, analysts said
The International Monetary Fund, meanwhile, has welcomed the ZiG’s stability but is urging fiscal and monetary discipline RelatedWhy Mushayavanhu doesn’t see that increased ZiG usage means Zimbabweans are dumping itWetlands Protection: Post COP 15 recommendations for Harare
Leave a ReplyCancel reply
Leave a ReplyCancel reply
Leave a ReplyCancel reply
Source: The Zimbabwean
All Zim News
All Zim News is a central hub for all things Zimbabwean, curating news from across the country so no story is missed Alongside aggregation, our team of nationwide reporters provides real-time, on-the-ground coverage Stay informed and connected — reach us at admin@allzimnews.com.
Source: Thezimbabwean
