Zimbabwe might reopen its Stock Exchange next week – sources

Zimbabwe

Sources who spoke to Bloomberg said Zimbabwe might reopen its Stock Exchange next week after it was closed down a few weeks ago.

The government had shut down the exchange and mobile money providers over allegations of sabotage and forex manipulation. Zimbabwe has been under runaway inflation that has shredded the value of its local currency.

Sources claimed the plans for the reopening have yet to be finalized, the people said, asking not to be identified because they aren’t authorized to discuss the matter.

However, the re-opened bourse will exclude Old Mutual Ltd. and possibly PPC Ltd. and Seed Co., two of the people said. The three companies, which have dual listings on other exchanges outside Zimbabwe, may instead be automatically listed on the so-called Victoria Falls Stock Exchange that is set to be launched later this year, they said.

READ ALSO:

Nigerian Professor, Charles Egbu appointed Vice Chancellor of UK University