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Thursday, May 30, 2024

Zim financial firm sets up shop in New York

Story by Owen Mandovha, Business Reporter

A local financial services firm, Bard Santner has set up shop in New York, United States, in a move expected to benefit Zimbabwe’s economy through facilitating international linkages to global capital.

Bard Santner’s move to open a branch in the financial district of New York is a shot in the arm for the local economy as it is already marketing the nation’s investment potential in London.

Bard Santner Chief Executive Officer Dr Senzwani Sikhosana said, “As a company, we went to the London Stock Exchange with local firms listed on the Victoria Falls Stock Exchange and this opened avenues for partnerships with global firms. These platforms helped to market Zimbabwe’s economic potential and there is now a huge interest by international investors to work with us.”

The firm has pledged to promote the local economy to international markets to attract foreign capital.

“The bigger picture is raising capital for the SADC region and Zimbabwe is going to benefit from that as well. There is huge interest by investors to invest in this part of the region, but the problem is that there is no information available well packaged to assess opportunities in this part of the world hence, we decided to set up a shop in New York,” added Dr Sikhosana.

Bard Santner is the first local financial institution to embrace the Reserve Bank of Zimbabwe’s gold coins by introducing gold-backed unit trusts which offer investors a diverse range of options for stabilising foreign exchange markets.

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