Business / Companies
ZSE not attractive to investors, says Chinamasa
27 Jul 2016 at 12:33hrs | Views
Finance Minister Patrick Chinamasa has said the Zimbabwe Stock Exchange is not attractive to foreign investors, hence a decline.
On Tuesday, it registered trades of $104, the lowest value of shares traded since dollarisation.
According to the ZSE website, the $104 and 93 cents that traded was for 6 995 shares in the local unit of Barclays.
Barclays shares traded unchanged at 1.5 cents with foreign investors accounting for $91 of that meagre value.
Chinamasa is today quoted saying the absence of technology focused companies was a major drawback.
"The criticism I have always had from fund managers looking to invest in Zimbabwe is that our stock exchange does not have enough counters worthy of investment. The old counters take no account of the technological advancements happening every day," he is qouted saying by The Source.
He added, "With respect to technological investments, the continent is still virgin territory and what we are looking for are more of these counters in order to attract the foreign direct investment we need."
Source - Byo24News
