THE Zimbabwe Stock Exchange (ZSE) has announced a strong performance by listed companies, promising a bright future for the Zimbabwean economy.
With a total market turnover of ZWG184 million in the second quarter of 2024, the exchange has signaled a promising outlook for the country’s economic growth and development.
According to a ZSE Newsletter, the impressive performance of the top five traded companies has been a major driver of this success, contributing significantly to the overall growth of the exchange.
These companies have demonstrated remarkable resilience and potential, weathering economic challenges and emerging stronger.
Their performance has not only boosted the ZSE’s turnover but also reflects the underlying strength and potential of the Zimbabwean economy.
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This impressive showing is a testament to the country’s ability to adapt, innovate, and thrive, even in the face of adversity.
“The top five traded companies accounted for 90 percent of the total turnover. Delta led the pack with a turnover of ZWG74,3 million, followed closely by Econet with ZWG46,5 million. Ezulweni Holdings came in third with a turnover of ZWG24, 6 million, while NMBZ Holdings recorded a turnover of ZWG18,5 million. Meikles Limited rounded out the top five with ZWG2, 5 million,” reads the newsletter.
Econet expects the increasing demand for data and digital services to continue reshaping mobile network operations and capital investments by the Group. The continued enhancement of the robust network infrastructure will be a key imperative to meet the evolving and unique needs of customers.
“We are optimistic about the future and are well-positioned to continue building on our momentum and creating long-term value for our shareholders through continued innovation, leveraging on digital technologies, prudent cost management and optimization of our operational efficiency.
“The ZSE’s total market turnover and the top five traded companies’ contributions demonstrate a robust and active market, reflecting the country’s growth and development. This performance is a testament to the resilience and potential of the Zimbabwean economy, and bodes well for investors and stakeholders alike.”
The ZSE in collaboration with other market participants launched the Capital Markets Association of Zimbabwe during the Inaugural Capital Market Conference on June 3, this year.
The establishment of the association is a significant step forward that will strengthen Zimbabwe’s capital markets and in turn, improve economic stability.
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