Zimbabwe Stock Exchange suspends trading
The Zimbabwe Stock Exchange (ZSE) has suspended operations.
In a letter address to Stakeholders on the 28th of June 2020, the ZSE said following the statement issued by the Secretary for Information, Publicity and Broadcasting Services Mr Nick Mangwana on 26 June 2020, the Zimbabwe Stock Exchange Limited engaged both the Securities and Exchange Commission of Zimbabwe and the Ministry of Finance and Economic Development.
Listed below is the ZSE Statement in Full
Following the statement issued by the Secretary for Information, Publicity and Broadcasting Services on 26 June 2020, the Zimbabwe Stock Exchange Limited (“ZSE”) 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 [email protected].
Zimbabwe last week suspended the use of Monetary Transactions on Mobile Based Money Platforms (One Money, MyCash, Ecocash and Telecash) dated 26 June 2020. Although the suspension of transactions was mentioned by the Information Ministry in its press release RBZ did not mention the stock exchange suspension.
The Government said the unprecedented measures were necessitated by the need to protect consumers on mobile money platforms which have been abused by unscrupulous and unpatriotic individuals and entities to create instability and inefficiencies in the economy.