adminpremium of about 514 percent.
Afre yesterday traded at US3c. ISB Securities acted on behalf of EW Capital while Renaissance Securities acted on behalf of NSSA.
The deal comes a few days after NSSA took over an 84 percent stake in Renaissance Merchant Bank in a transaction worth more that US$24 million.
NSSA will now appoint at least two board members to the Afre board.
Masawara, a Jersey-based investment firm focused on acquiring local business interests, was at some point reported to be interested in the Afre stake.
The deal lifted daily turnover on the Zimbabwe Stock Exchange to about US$8,145 million as the industrial index marginally gained 0,2 percent to 143,46 points, driven by gains in mid-tier stocks.
The mining index rose 5,8 percent to 88,02 points, lifted by gains in RioZim. Cable manufacturer Cafca led the industrials after gaining US10c to US50c. CFI rose by US0,98c to US7c and Afre gained US0,3c to US3c in normal trades. Dairibord Zimbabwe was up a cent to US20c.
On the downward side was Border Timbers which lost US1c to 14c and Mashonaland Holdings which dropped US0,01c to US2,7c.
RioZim jumped US10c to US50c after its managing director Mr Josh Sachikonye said the company would raise US$47 million through a combination of rights offer and private placement.
About US$26 million will immediately pay off a number of banks which are owed by the mining company while the remainder would be spent on recapitalisation.
Online Reporter
- Herald
- July 31, 2026
- 24 views
Economy: Growth signs visible
Martin Kadzere Senior Business Reporter ZIMBABWE has made significant progress towards achieving upper-middle-income status, with the country’s Gross National Income per capita growing by 84 percent since 2021, Finance, Economic…
