Zimbabwe Stock Exchange

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Zimbabwe Stock Exchange
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Founded 1896
Key People Emmanuel Munyukwi, Chief Executive
Products Securities Exchange

Zimbabwe Stock Exchange (ZSE), established in 1896, is the second largest equities exchange in southern Africa after the Johannesburg Stock Exchange (JSE). It has a market capitalization of around $6 billion. It has been open to foreign investment since 1993.

The exchange stopped trade on Dec. 17, 2008 after the country’s Securities Commission on Nov. 20, 2008 ordered stockbrokers to submit audited financial reports of their net worth by the end of December 2008. The commission had warned broking firms they would be closed if they failed to meet the deadline.[1]

The impasse on the ZSE spilled into 2009 with stockbrokers advocating for the local bourse to be dollarized as investigations of alleged insider trading continue. It was reported that ZSE chief executive Emmanuel Munyukwi said trade would resume when investigation on various issues was complete and other demand examined. [2]

History

The ZSE launched an electronic trading board in late 2008, becoming the third African country to move from a manual system and paving the way for investors' to have access to real time data, officials said. The system made the ZSE the third after Johannesburg and Cairo, and the 60th in the world to install an electronic display, which will also supply data from the Zambian and Malawian bourses.[3]

Products and Services

Key People

  • Emmanuel Munyukwi, Chief Executive

References

  1. Zimbabwe’s Stock Exchange Fails to Resume Trading. New Zimbabwe.
  2. Zimbabwe: Stockbrokers Call for Dollarisation of ZSE. All Africa.
  3. Zimbabwe's Stock Exchange Adopts Electronic System. Bloomberg.