adminmarket in the country growing at a snail’s pace, this is explained by the marginal increase in most of the stock prices. As at the beginning of this quarter, African Sun was valued at 0,9 cents and it remained constant at that value, Barclays was at 3,2 cents and closed the week at around 3 cents, Colcom and Innscor rose significantly within this quarter from 25 cents and 54 cents to 35 cents and 66 cents respectively.
This third quarter opened with a special bargain of 61 254 241 TPH shares at 11 cents each. A marginal rise was seen for Econet shares which rose to 435 cents from 430 cents at the beginning of the third quarter, Delta rose to 75 cents from 65 cents which was registered on July 2 which marked the onset of this quarter.
With a market capitalisation of below US$5 billion and about 75 actively trading counters, the ZSE compares unfavourably with exchanges which used to be at equal footing like the Nairobi Securities Exchange.
The NSE has 59 listings and a market capitalisation of nearly US$12 billion, Tanzania’s Dar es Salaam Stock Exchange saw its capitalisation rise to 10,33 percent at mid year to just above US$8 billion.
Instead of clamouring for an SME bourse, Zimbabwe at this juncture requires a restructuring of the whole exchange which will see some of the listed stocks being downgraded to TIER 2 levels.
It is the highly capitalised counters which had recorded significant share price rises in this third quarter.
Christopher Takunda Mugaga is an economist and is attached at Econometer Global Capital where he is the head of research. He can be contacted on +263 772 340 353, +263 776 266 062 or e-mail address: [email protected]
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