Investment advisory firm Imara Holdings Limited says that the introduction of bond notes has benefitted its asset management and stockbroking business in Zimbabwe in the half year ended October 31.
Government’s plans to introduce a token currency known as bond notes has sent investors scurring for cover in equities as they fear a loss of value in bank deposits.
Last month Imara reported that the situation had resulted in the rise of hard assets and equities purchases.
“Imara Zimbabwe has been a beneficiary of the proposed introduction of bond notes and resultant switch to equities, benefiting our Zimbabwe asset management and stockbroking business, ” the company said in a trading statement.
Imara is an independent, investment banking group with offices in Angola, Botswana, South Africa and the UK and associate offices in Malawi, Mauritius, Zambia and Zimbabwe.- The Source
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