ZSE forex problems

THE Zimbabwe Stock Exchange (ZSE) could fail to comply with the regional deadline to computerise the equities market by December next year due to chronic foreign currency shortages stock brokers said this week. 
The Zimbabwean understands that the stock market is failing to raise about

US$2 million required for the complete computerisation of its systems.
Sadc stock markets resolved to computerise their systems by December next year in order to harmonise trading.
Despite being having the best return rate in the world largely due to hyperinflation, stock brokers said the rate at which foreign currency was flowing in the country could make it impossible for stock market to meet the deadline
Sources said ZSE was proposing an extension of the entire system so as to link with all other stock exchanges regionally.
A Sadc stock exchange committee is expected to meet this month to consider the proposed extension of the deadline.

Post published in: Economy

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