After 37 years that saw the southern African nation deteriorate from one of the continent’s most prosperous to one of its most destitute, President Robert Mugabe has resigned from office. The dramatic turn of events has understandably raised hopes of much-needed political and economic reforms. And many investors are now keen to get a handle on the local stock market. Here are a few things to consider if you are of similar mind.
With memories of hyperinflation still fresh, Zimbabweans now wrestle with a deflationary economy.
Here are five stocks that can help blunt its impact, and two more that investors would do best to avoid.
It was a terrific year at the Zimbabwe Stock Exchange. The market’s main index climbed 31%.
Surprising, isn’t it? With a disputed election result, tougher indigenization laws, and under-capitalized banks, you’d think investors would be sizing up a good mattress to hide their hard-earned savings under – not investing in stocks.
But while the mood in Harare may have been gloomy, foreign investors saw relatively inexpensive assets, priced in dollars, in an economy with relatively cheap foreign exchange controls. And they swamped the market. Foreigners accounted for more than 80% of trade volume during the second half of the year.
Curious to see what they were bidding on?
Here’s a countdown of Zimbabwe’s top stocks of 2013.
This is going to sound a little strange, but both my girlfriend and I, days apart, had dreams where we were shown that it would be good to invest in African seeds. It was clear in both dreams that it had something to do with actual plant seeds.
I’ve never received investing advice in a dream before, but when my girlfriend had the same advice in her dream, after not knowing anything about my dream, I started to wonder.
After a bewilderingly long, one-year hiatus, the Zimbabwe Stock Exchange once again has a website.
It was definitely worth the wait.
Among African stock exchange websites, the ZSE has, in my view, moved from worst to first. Here’s why.