Tapiwanashe Mangwiro
The Zimbabwe Stock Exchange (ZSE) is the worst performing stock exchange on the continent this year in US Dollar terms, according to website African-Markets.Com which tracks stock markets across the continent.
The ZSE has lost 68,47 percent year-to-date, which is almost twice the next worst performing exchange the Ghanaian Stock Exchange which has lost 37,45 percent in the same period.
In the week closing August 11, 2022, the ZSE lost 4,02 percent but maintained a 39,80 percent gain year to date in local currency terms.
The foreign currency denominated bourse, the Victoria Falls Stock Exchange (VFEX) registered notable gains after Bindura, Padenga and SeedCo International closed the short week in the positive. Caledonia’s price remained unchanged.
Following the release of the Monetary Policy Statement which was void of significant policy changes, investment managers expect the gold coins’ market to continue affecting trading activity during the coming week.
Platinum Securities head of research Princess Mazumba said, “We anticipate limited activity on the stock market, leading to losses in a number of counters.”