Browsing: Zimbabwe stock exchange

Zimbabwe is anticipating the listing of some Real Estate Investment Trusts (REITs) this year. ZSE is expected to list the…

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

Interestingly if the US$9 million which the company said it lost from the statutory surrender requirement is added back to the top-line revenue, it will take the company’s revenues for the 2021 financial year to just above US$ 24 million which would be higher than what it achieved in 2020. This policy position which the company lamented needs revision by the authorities as it is inflicting real financial harm to companies that are Zimbabwe’s biggest exporters and earners of foreign exchange.

In the 2021 financial year, Padenga Holdings Limited incurred higher interest expenses at US$ 10,138,637 which was up from US$ 6,665,084.00 the previous year. The increase in this cost category was due to leverage and borrowings which Padenga employed in rehabilitating the Eureka gold mine which is now in full production and is also responsible for the increase in group revenues.

The company enjoyed increased production from its gold mining operations. The company sold a staggering 976 kilograms of gold which was higher than the 722 kilograms of gold sold in 2020. The increase in gold production came from the newly commissioned Eureka gold mine. From its crocodile operations, Padenga Holdings Limited sold a total of 55,341 skins which was less than the 72,244 skins it sold in 2020. The Zimbabwe crocodile operation sold 39,936 skins down from 43,254 skins that it sold in 2020.

Zimplats Holdings is highly profitable. The Australian Stock Exchange (ASX) listed company boasts a market capitalization of US$2.26 billion. This…

Before Mnangagwa’s statement, the Zimbabwean currency was officially valued at 165.94 to the US dollar, but it was trading on…

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.

Successful turnaround strategies are not new to Zimbabwe’s largest universal banking concern. CBZ has gone the distance from being characterized…

The pre-listing statement specifies that the VFEX listing is a secondary one and will be done by way of the introduction of depository receipts representing the company’s shares that cannot be directly traded in Zimbabwe as its primary listing is on the respectively.
Investopedia defines a depositary receipt as “a negotiable certificate issued by a bank representing shares in a foreign company traded on a local stock exchange. The depositary receipt gives investors the opportunity to hold shares in the equity of foreign countries and gives them an alternative to trading on an international market.”
A depositary receipt allows investors to hold shares in stocks of companies listed on exchanges in foreign countries. It avoids the need to trade directly with the stock exchange in the foreign market. Instead, investors transact with a major financial institution within their home country, which typically reduces fees and is far more convenient than purchasing stocks directly in foreign markets.

If your goal is financial success, then the investment is the vehicle that will get you to that destination. Having…