Categories: Stories

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

(54 VIEWS)

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.

Recent Posts

ZiG loses steam, falls against US dollar for five consecutive days

The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…

November 22, 2024

Indian think tank says Starlink is a wolf in sheep’s clothing

An Indian think tank has described Starlink, a satellite internet service provider which recently entered…

November 18, 2024

ZiG firms against US dollar for 10 days running but people still do not have confidence in the currency

Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…

November 16, 2024

Zimbabwe among the top countries with the widest gap between the rich and poor

Zimbabwe is among the top 30 countries in the world with the widest gap between…

November 14, 2024

Can the ZiG sustain its rally against the US dollar?

Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…

November 10, 2024

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024