Zimbabwe Stock Exchange Demutualised

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VENTURES AFRICA – Zimbabwe Stock Exchange (ZSE) which has been run by stock brokers for over 60 years was yesterday demutualised and turned into a private entity.
ZSE, has 65 listed companies, and had a market capitalisation of $4.9 billion on Monday.
Zimbabwe Finance Minister Patrick Chinamasa said stockbrokers and the government would sell half their shares when the ZSE list on the bourse it operates.
“I am hoping and expecting that we can excite our banking sector, our pension funds, insurance companies to take up equity in the stock exchange and I hope the work starts now to try to sell that idea to them,” Chinamasa said.

ZSE has also been open to foreign investment since 1993. Last week the bourse threatened to delist mining giant, RioZim Group Limited and three other companies for failure to pay up listing fees.
RioZim Group Limited which is involved in mining and metallurgical operations at different locations in Zimbabwe owe ZSE a paltry $5000 .
The other three companies facing expulsion are ART Holdings, Celsys, Border Timbers who owes the bourse $2000, $3000, and $13,294 respectively.