Zanu-PF factional battles bleed ZSE $2.5 billion

Economic and political analysts have said the post-congress Zanu-PF's factional and succession wars were worsening the economic situation and putting a damper on the upside potential of the local stock market.

According to market data the ZSE had a market capitalization of $5.96 billion in the first week of August 2013.

This had since plummeted to $3.4 billion by close of markets yesterday, with market watchers attributing the steep decline to weak foreign participation, liquidity constraints on the domestic market and Zanu-PF's infighting.

The local bourse, once regarded as one of the best performing in Africa, during the GNU days, was recently ranked by the African Development Bank as the worst performing on the continent due to continues lack of investor confidence.