Zim stock exchange bears brunt of economic turmoil
from MARCUS MUSHONGA in Harare, Zimbabwe
HARARE – THE dire economic situation is weighing down the Zimbabwe Stock Exchange (ZSE), which according to analysts, is facing collapse.
According to a report by an economic research group, Confederation of Zimbabwe Industries (CZI), ZSE’s capacity utilisation has fallen from 39,6 percent in 2013 to 36,1 percent in 2014.
“This development comes against the backdrop of a difficult operating environment characterised by low demand and arising from a persistent
liquidity crunch,” CZI stated.
“The damning statistics saw the market extend its losing streak from prior week into the current with the main stream industrial index making it a straight set of five losing sessions in which a cumulative -2,23 percent was shed to see the index settle at 189,14 points,” the report added.
The bourse is among some local institutions that have not been spared the economic challenges the Southern African country has suffered over the last few years.
– CAJ News
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