Chronicle Editor
Sikhulekelani Moyo, [email protected]
LISTED Exchange Traded Fund (ETF) Cass Saddle Agriculture has called upon farmers to heed the call by the Government and invest in conservative farming techniques to reduce the effects of droughts which are caused by climate change.
The Cass Saddle Agriculture Exchange Traded Fund (CSAG) debuted on the Zimbabwe Stock Exchange on 15 July 2022.
It invests in agriculture-related stocks that are listed primarily on the ZSE.
Agriculture remains the mainstay of the Zimbabwean economy and CSAG ETF provides a credible means for the country’s agriculture activity to be reflected in the financial markets.
In a statement accompanying the fund’s financial statements for the period ending 31 December 2023, the Fund manager Mr Calvin Mugabe said agriculture is arguably the oldest profession and it has been reported that agriculture will be the next oil.
Therefore, he said the Fund will play its part in positioning Zimbabwe to take advantage of this development.
Mr Mugabe said this is achieved through appropriate products in the financial and capital markets.
“In light of this, it is our strategic intent to establish rapport with institutional and retail investors so that, via the Cass Saddle Agriculture Exchange Traded Fund, we can collectively channel the much-needed patient money into agriculture investments.
“We hope farmers will be able to fully exploit the interventions by the Government, to increase the amount of irrigable land through the construction of dams across the country, so that the effects of the predicted drought are not as severe,” he said.
“In so far as performance is concerned, we do expect an upsurge in the price for two-pronged reasons. Firstly, it is expected to catch up with the Net Asset Value. Secondly, we expect strong performance of the underlying stocks on account of population increases, accentuated by urbanisation, not only in Zimbabwe but across the globe.”
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