Browsing: stock market

The first index which comes into effect immediately is the NSE 10 Index. This will monitor the performance of Safaricom,…

Fast food giant, Simbisa Brands Ltd., the firm that controls high-profile restaurant chains across African markets, spurred its planned VFEX listing, notifying investors in a comprehensive roadmap that the deal may be through by December 2, 2022.

Simbisa, which has risen from its Zimbabwean roots to establish a formidable African network, executes its strategy through a string of high-end hospitality brands that include the flagship Chicken Inn, Pizza Inn, Creamy Inn and Bakers Inn, one of the country’s biggest bread producers.

It also holds the franchises for quick service restaurant chain; Rocomamas, Nandos and Steers, along with Galito

In a statement that disclosed Simbisa’s rationale to switch from the ZSE, the firm’s board rallied shareholders to give an emphatic nod to the transaction at an extraordinary general meeting scheduled for November 18, 2022.

Stock broker Morgan and Co to launch Made in Zimbabwe  ETF on June 17, 2022 Made in Zimbabwe ETF to…

With over 548 million registered mobile money users in sub-Saharan Africa, increased internet access and readily available mobile money solutions, the FX market has become accessible to the majority of Africans. 

The availability of mobile money payment solutions has seen an increase in the creation of fintech startups created solely to cater to Africans interested in trying their hand at trading in both local and international FX markets. 

Firms including Exness, XM.com, Avatrade, CM Trading, Tickmill and Chipper Cash among others all reported a significant growth in trading in 2020. A testament to the growing trading culture driven by fintech across the continent.

Jurisdictions and stock exchanges have their own rules for what circuit breakers entail when they kick in, and for how long they are in place. Circuit breakers are triggered based on slightly different parameters on various exchanges, with trading suspended anywhere between 5 minutes – as is the case on the Hong Kong exchange – or an entire day.

New York Stock Exchange President Stacey Cunningham told CNBC that circuit breakers are a precautionary measure that can slow down for a minute.

The circuit breakers “are designed to slow trading down for a few minutes, to give investors the ability to understand what’s happening in the market, consume the information and make decisions based on market conditions,” she said.

A circuit breaker functions in the trading world the same way it does for electrical circuits in a home. When things get overloaded, it kicks in and shuts down the circuit.

President Mnangagwa said his Government is convinced that the recent exchange rate movements were driven by negative sentiments by economic agents as opposed to economic fundamentals.

“These negative sentiments have been propagating adverse expectations on future inflation and exchange rate movements, thus giving rise to artificially high demand for foreign currency as economic agents hedge against expected high inflation,” he added.

The Government listed measures that are expected to restore macroeconomic stability, support the current robust economic recovery trajectory, boost economic confidence, increase the appeal of the local currency, preserve value for depositors and investors and deal with market indiscipline.