Government seeks investor for Zimbabwe Stock Exchange stake


Government says it is looking for potential investors to take up part of its shareholding in the Zimbabwe Stock Exchange (ZSE).

The local bourse, previously a non-profit member owned organisation, was last year transformed into a private company with government owning 32 percent of the exchange while stockbrokers control the remaining 68 percent shareholding.

Announcing the company’s new board today, Finance Minister Patrick Chinamasa said government was ready to reduce its shareholding.

“We are prepared to shed off a portion to any strategic partner that you might want to invite into the stock exchange from the private sector,” said Chinamasa.

“I also want to encourage the pension’s funds, insurance companies and commercial banks to take up a stake in the company to help capitalize the stock exchange.”

The new board, which will be chaired by Carol Sandura, comprises of Benson Gasura, Daniel Muchemwa, Xolani Moyo, Alban Chirume and Bartholomew Mswaka.- The Source


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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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