Business / Economy
Second stock exchange for Zimbabwe on the cards
31 Aug 2012 at 05:04hrs | Views
The Indigenisation ministry, in collaboration with private sector partners, is planning to set up a second stock market in Zimbabwe, which will trade in shares from the indigenisation fund.
Youth Development, Indigenisation and Empowerment minister Saviour Kasukuwere said this week the shares would be listed under an Indigenisation Index (Indigedex) but the modalities of how this would be structured were still being worked out.
He said indigenisation was a technical process which required intricate planning to avoid a haphazard approach.
The move to set up a stock exchange would afford everyone a chance to participate in the empowerment programme, Kasukuwere said.
The plan to set up the Indigedex comes at a time when government has called on all mining companies to primarily list on the ZSE.
Government believes such an arrangement would ensure capital yielded from mining activities would help to ease liquidity challenges in the market.
Currently, there are only two foreign mining firms listed on the ZSE â€" BNC and Falcon Gold.
Youth Development, Indigenisation and Empowerment minister Saviour Kasukuwere said this week the shares would be listed under an Indigenisation Index (Indigedex) but the modalities of how this would be structured were still being worked out.
He said indigenisation was a technical process which required intricate planning to avoid a haphazard approach.
The plan to set up the Indigedex comes at a time when government has called on all mining companies to primarily list on the ZSE.
Government believes such an arrangement would ensure capital yielded from mining activities would help to ease liquidity challenges in the market.
Currently, there are only two foreign mining firms listed on the ZSE â€" BNC and Falcon Gold.
Source - businessdigest
