Zimbabwe Stock Exchange suspends trading whilst they wait on authorities to decide fate

Zimbabwe Stock Exchange (ZSE) and mobile money platforms were the targets of the Ministry of Information’s ire on Friday night with the baffling announcement of a ban on both platforms.

Whilst the ZSE had been quiet, the mobile money operators all dismissed the Ministry of Information’s and cited they were regulated by the Reserve Bank of Zimbabwe. Mobile money platforms thus assured the public to continue transacting as normal.

ZSE has taken a different course and published a notice yesterday to the effect that they would be suspending trading. The statement reads;

Following the statement issued by the Secretary for Information, Publicity and Broadcasting Services on June 26 2020, the Zimbabwe Stock Exchange Limited engaged both the Securities and Exchange Commission of Zimbabwe (SECZ) and the Ministry of Finance and Economic Development.

Whilst we await the guidance from our regulators on the operational modalities going forward, we notify our stakeholders that trading has been suspended until further notice.

For any enquiries, you can email info@zse.co.zw.

For and behalf of Zimbabwe Stock Exchange Limited.

ZSE CEO – Justin Bgoni