Zimbabwe Securities Commission refuses licence for ZSE bourse
The Securities Commission of Zimbabwe (www.seczim.co.zw) has declined to grant the Zimbabwe Stock Exchange (www.zse.co.zw – under maintenance), an operating licence, according to local media, and is challenging the exchange to provide a business plan.
Broker supplies clients with faster African investor relations (IR) data
Another step forward for Africa-based investor relations (IR) specialist Rob Stangroom. He announced that Zimbabwe-based stockbroker Lynton Edwards Securities is using data direct from corporate IR websites to service clients’ information needs about Zimbabwe-listed companies.
Rencap bidding to take over Zimbabwe stockbroker?
Media report that Renaissance Capital (RenCap), a unit of Russian investment bank Renaissance Group, is drawing closer to a takeover of one of Zimbabwe’s largest stock-broking firms, Lynton Edwards Securities.
Electronic trading and central securities depository coming for Zimbabwe?
A company has been engaged to switch the Zimbabwe Stock Exchange to electronic trading and Cabinet has discussed this and setting up a Central Securities Depository by year-end.
Afreximbank has $100 mln to boost Zimbabwe businesses
The African Export-Import Bank has created a US$100 million facility to recapitalise Zimbabwean companies. Four local institutions are ready to disburse $70 mn.
Brainworks fund links indigenization and private equity in Zimbabwe
Zimbabwean private equity firm Brainworks Capital Management has reportedly launched a $20 million fund targeting Zimbabwe’s agriculture, financial services, mining and telecommunications sectors, according to a report on www.privateequityafrica.com.
Zimbabwe launches COMEZ Commodities Exchange
The new Commodities Exchange of Zimbabwe (COMEZ) opened on 14 January, but no date is set to start trading. The exchange would be managed by the State, banks and farmers’ unions, shares would be offered to private investors. It will end the monopoly of the State-owned Grain Marketing Board and support continuing agricultural recovery.
Zimbabwe Minister “blocks” Duration gold miner’s Toronto SE listing
According to media reports, Zimbabwe’s Indigenization Minister Saviour Kasukuwere is declining to give permission for leading gold miner Duration Gold to raise US$7 mn by listing on the Toronto Stock Exchange, using powers to block equity deals if he is not sataisfied the company complies with indigenization rules introduced last March.
What’s Up on Zimbabwe Stock Exchange?
Extracts from interviews with the CEO of the ZSE, Emmanuel Munyukwi, and the CEO of the Securities and Exchange Commission, Alban Chirume and other market experts by the Zimbabwe Independent newspaper.
Zimbabwe Stock Exchange prospects better for 2011, reported in businessdigest
Two economists talk to Business Digest about prospects for the Zimbabwe Stock Exchange, which they say are better for 2011 as the economy is expected to improve although political uncertainty remains a risk.
Crocodile company swims onto Zimbabwe Stock Exchange
The Zimbabwe Stock Exchange snapped up its first new listing since 2007 on 29 November when Padenga Holdings Limited was admitted as the 77th listing.
Lontoh Coal considers Hong Kong IPO reportedly “to avoid Zimbabwe sanctions”
Lontoh Coal ,a South African unlisted mining company with projects in Zimbabwe, wants to do its next public offer in Hong Kong, according to a Reuters report. The initial public offer (IPO) aims to raise up to $500 million. According to the report Lontoh chief executive Tshebo Kgadima said he had chosen to list in Hong Kong as it might have been difficult for his company to sell shares in New York or London as the United States forbids trade or investment with Zimbabwean firms linked to the country’s president Robert Mugabe.
Zimbabwe US$25 million women investment fund launched
Top Zimbabwean Government women leaders on 30 September launched a US$1 million Zimbabwe Women Investment Fund, aimed at mobilising resources to enhance women’s participation in the mainstream economy. They aim to grow the fund to US$25 million within 3 years, according to a report in The Herald newspaper.
Second New Africa Mining Fund aims for $100 million-$300 million
The African Development Bank has joined investors into the New Africa Mining Fund II equity fund investing in mining projects throughout Africa, especially Southern Africa. The bank announced on 19 July a $25 million equity stake. NAMF II aims to raise $100 million to $300 million.
Zimbabwe Stock Exchange fails to attract investors
“Currently our capitalisation is just above US$3 billion and is falling, but if we attract big companies to list, especially in the mining and banking sectors, we can grow the size of the market up to levels of US$10 billion.” These brave words come from the new chair of the management committee of the Zimbabwe Stock Exchange, Ndodana Mguquka.
Imara Holdings on expansion path
Imara Holdings Ltd, an investment banking and asset management group with operations in 10 countries mostly in southern Africa, aims to expand in Zimbabwe, according to Zimbabwe’s Herald newspaper.
More activity on Zim SE after trading charges slashed
There is more trading on the Zimbabwe Stock Exchange after transaction costs were reduced, effective 10 January
Zimbabwe SE seeks to restore IFRS compliance by listed companies
The Zimbabwe Stock Exchange is seeking to reinforce International Financial Reporting Standards again on its listed companies. Many had stopped using the standards in runaway inflation, but the introduction of US dollar-based figures and transactions allows them to reintroduce it.
Zimbabwe Stock Exchange dealing charges from 11 January
New dealing charges for the Zimbabwe Stock Exchange came into effect on 11 January 2010, a week ago. Total Both Sides 4.21%
Transaction costs slashed on Zimbabwe Stock Exchange
Zimbabwe’s 2010 budget includes slashing transaction costs on the Zimbabwe Stock Exchange (ZSE) by more than half, to 3.21% (buying 1.73%, selling 1.48%) from 7.5%, according to a local stockbroker.