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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

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Zimbabwe: ZSE Revenue Down 23 Percent Over Six Months

bycitibusinessnews
August 4, 2016
in Africa, Southern Africa
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Zimbabwe Stock Exchange revenue for the six months to July 2016 fell 23 percent to $14 million on the back of a significant fall in volumes traded. Statistics from ZSE also show that the volume of shares that were traded retreaded by 36 percent to 56,52 million shares during the period in review.Trade was concentrated in bellwether stocks with beverages manufacturer, Delta Corporation accounting for half the value that was traded.

Coming a distant second was seed producer, Seed Co, which accounted for only 14 percent and mobile phone network operator, Econet at 13 percent.

The local bourse has lost nearly 14 percent of its year to date value, as the weak economy continues to weigh down on the value of local stocks.

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This comes as the stock market, which opened this year at $3,3 billion, has fallen and is trading below the psychological (rebase) 100 level barrier.

But the ZSE was not the heaviest faller in the region in the six months to June with at least two other exchanges recording a worse outturn.

The Nairobi Stock Exchange lost 14,6 percent while the Nigeria Stock Exchange has retreated by 14,66 percent since the beginning of the year.

Investors on the Mauritius Stock Exchange may not have suffered significant loss in value, with the market losing only a marginal 0,17 percent.

The second best performer was the Johannesburg Stock Exchange, which gained 3,14 percent behind the region’s best performer, the Botswana Stock Exchange, which put on 11,65 percent in the half year period.

  • Equities analysts are downbeat on
  • the stock market’s performance in
  • the year ahead as the challenging
  • macro-economic environment
  • continues to negatively affect investor sentiment.

Testimony to the challenges the economy is facing, the Zimbabwe Revenue Authority saw collections fall 6 percent below target at $1,65 billion.

Ahead of solutions to improve the ease of doing business, cost of funding, labour laws, attraction of foreign direct investment, currently lower than regional peers, the equities market remains in a bit of trough.

At current company performances, foreign investors are expected to continue sitting on the fence.

–

Credit: All Africa

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