ZSE welcomes new listing

By Owen Mandovha Business Reporter
THE Zimbabwe Stock Exchange has welcomed another listing following the launch of the Multi Sector Exchange Traded Fund (ETF) which is expected to provide investors with options and expand the country’s financial markets.
The year 2022 has started on a high note for retail and institutional investors following the listing of yet another Exchange Traded Fund by stock broking and research house, Morgan and Company.
In a game changing move that is set to expand the country’s capital markets and offer investors diverse investment options, Zimbabwe Stock Exchange Board Chair Caroline Sandura welcomed the new listing, saying it will add impetus to the development of the country’s financial markets.
“The Zimbabwe Stock Exchange continues to offer investors more options and this listing is going to harness our competitiveness and attractive as a regional stock exchange,” said Caroline Sandura, Zimbabwe Stock Exchange Board Chairperson.

The Multi Sector Exchange Traded Fund gives investors the opportunity to earn market beating returns through exposure to a wide range of counters.
“The ETF is an index that tracks a number of counters on the ZSE instead of one just investing in a single counter. It allows one to have exposure to a number of shares which gives one the opportunity to earn high returns,” said Batanai Matsika, Morgan and Company Head of Research.

The Securities Exchange Commission, which granted approval of the new listing is excited by the momentum of innovation that is gripped local financial markets.
“The SECZIM is pleased to have granted approval of this new EFT and this marks a new era of investing in Zimbabwe and as we speak we are assessing more ETFs which have been proposed,” said Tafadzwa Chinamo, Chief Executive Officer, Securities Exchange Commission (SECZIM)
The new listing brings to two the number of ETFs on the Zimbabwe Stock Exchange after the Old Mutual Exchange Traded Fund was launched last year.
This comes on the back of a year of high activity on the country’s capital markets, which saw the launch of the Victoria Falls Stock Exchange that continues to attract global attention as more listings loom.

The post ZSE welcomes new listing appeared first on ZBC NEWS.

Leave a Reply

%d bloggers like this: