daniel chigunweTapiwanashe Mangwiro
Tuesday trading on Zimbabwe’s stock exchanges reflected a blend of gains and losses, highlighting the complex dynamics shaping investor sentiment.
On the Zimbabwe Stock Exchange (ZSE), the All Share Index dropped 0,84 percent to 204.80, while the Top 10 Index saw a smaller decline of 0,28 percent, closing at 204.55.
Market capitalisation stood at ZiG 60,93 billion, down 2,03 percent, translating to US$2,32 billion.
Value traded surged 8,8 percent to ZiG 8,44 million, with SeedCo leading the pack with ZiG 2,66 million in turnover.
The ZSE saw notable movements among individual stocks. Zimpapers recorded a remarkable 50 percent gain, followed by ZHL which gained 33,33 percent and BAT added 19,5 percent.
On the losing side, SeedCo plummeted 14,95 percent, Tanganda fell 14,77 percent, and Unifreight dropped 14,6 percent.
The Victoria Falls Stock Exchange (VFEX) mirrored this volatility, with its All Share Index declining 1,17 percent to 102.59. Market capitalisation was down to US$1,25 billion.
Trading activity totalled US$111 943, led by Innscor Africa Limited with US$108 684.82 in turnover. SeedCo International experienced a sharp 20 percent decline, while Padenga Holdings gained 0,94 percent.
Currency markets reflected modest volatility. The Zimbabwean dollar (ZiG) saw mixed movements against major currencies, with USD/ZiG rising 0,06 percent to 26.30 and GBP/ZiG gaining 0,71 percent to 32.31.
However, EUR/ZiG fell by 0,36 percent to 27.31. Against the South African rand, ZiG/ZAR weakened by 0,55 percent.
Lithium prices remained under pressure, but optimism persists. Kuvimba Mining House, Zimbabwe’s state-owned mining company, expects a rebound in prices by 2026. The company is finalising a US$270 million deal with Chinese investors to develop a lithium concentrator at Sandawana Mine, anticipating increased demand from electric vehicle production.
Zimpapers announced leadership changes, with CEO Pikirayi Deketeke, CFO Farai Matanhire, and CMO Tapuwa Mandimutsira departing.
William Chikoto will serve as acting CEO, while Annah Kufakunesu assumes the CFO role.
Markets face headwinds amid global economic uncertainties. However, regional resilience, particularly in commodities and technology, could provide support in the coming months.
Tuesday’s trading underscores the challenges and opportunities facing Zimbabwean markets.
With a blend of corporate restructuring, commodity-driven optimism, and evolving investor sentiment, the road ahead remains uncertain but filled with potential.
Bongani Ndlovu