adminChengetedzai Depository Company (CDC) said yesterday it will, starting December 1 this year, add 16 more companies listed on the Zimbabwe Stock Exchange whose transactions will be cleared and settled on the Central Securities Depository (CSD). The CSD, which allows investments on the stock exchange to be kept in electronic form for ease of trading and safe keeping, was launched in September this year. It is gradually replacing the paper certificates that are currently in use for some listed counters.
The companies that will be added on to the CSD from next month include African Distillers, British American Tobacco, First Mutual, General Beltings Holdings, Hunyani Holdings, Lafarge, Masimba, Zimpapers and Zimre Holdings.
“The outstanding companies are working towards fulfilling the CSD requirements for on boarding,” the CDC said.
“The market will be advised of the date of on boarding of the remaining counters.” The addition of 16 more firms on the CSD brings to over 40 the number of companies whose securities are being cleared and settled on the CSD.
A total of 66 companies with a market capitalisation of over $4 billion are currently listed on the ZSE.
Clearing and settlement of securities on the CSD commenced in September this year as part of wider initiatives to automate the ZSE. — New Ziana.
Online Reporter