Story by Stanley James
The Zimbabwe Stock Exchange (ZSE) has maintained its momentum as a vibrant platform for capital raising and investment returns after recording over ZiG1.8 billion in share transactions since April.
The ZSE has met its 2024 overall performance figures, showcasing a strong market performance despite challenges faced by listed companies.
Since the introduction of the Zimbabwe Gold currency in April, the exchange has facilitated share transactions worth nearly ZiG2 billion. The total market capitalisation of listed companies has also surpassed ZiG83 billion, reflecting growing confidence in the market.
As a platform for trading shares and protecting investor interests through transparency and price discovery, the ZSE All Share Index has recorded a remarkable 165% gain since April.
Foreign investor participation has accounted for 15% of total share transactions, with interests focused on mining, construction, retail, agriculture, transport and distribution sectors.
The top five companies contributing to 85% of share transactions this year are Delta Corporation Limited, Econet Zimbabwe Limited, Ecocash Holdings Zimbabwe Limited, NMB and FBC.
Zimbabwe’s efforts to diversify markets are also yielding positive results, thanks to the impressive performance of Exchange Traded Funds and Real Estate Investment Trusts.
Looking ahead, the local market is expected to consolidate its gains driven by a stable domestic currency, improved macroeconomic conditions, a strong summer cropping season, increased spending and rising exports.
