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ABOUT $1 billion of idle or reserve money that was reportedly used to speculate on currency trading has been invested in savings bonds and will no longer be available on the market as it will go towards supporting agriculture this coming season.
The funds, which Reserve Bank of Zimbabwe governor Dr John Mangudya, described as “legitimate”, were held by companies and individuals including those whose accounts were frozen.
The accounts — which have since been unfrozen — belong to companies including Sakunda, Access Finance, Spartan Security, Croco Motors.
ALL SHARE
The All Share index continues to gain ground as it added 3.03 points 1,30 percent to close at 235.89 points. Old Mutual Limited (OMU.zw) further advanced by $0,7602 to $36,9806, Delta gained $0,1288 to settle at $3,8700 and Dairibord was $0,0825 firmer at $0,6450. Econet Wireless also increased by $0,0498 to $1,7587 and Meikles traded $0,0400 firmer at $1,7500.
Only four counters traded in the negative: Axia Corporation decreased by $0,0037 to $0,6513 and Simbisa Brands went down to $1,3902 after shedding $0,0023. OK Zimbabwe also dropped $0,0010 to end at $0,6525 and SeedCo International eased $0,0005 to $2,7750.
Bongani Ndlovu