TRADE on the Zimbabwe Stock Exchange has surged to US$1,3 million per day five months after reopening for trade effectively becoming one of the best five trading bourse in the continent, a leading international stock broking firm has announced.Daily transactions have increased from 50 000 dollars a in March, effectively making the ZSE one of the biggest five Africa markets by value of the shares traded, according Renaisance Capital Fund, a Russian based fund. Shares on the local bourse resumed trade in February ending months of no activity as result of of an impasse between brokers and regulators as result of diffrences on the issue of commissions.
The ZSE was once ranked the best performing bourse in the early 2000 by major European Investors, before the countrys economic and political declince which resulted in the economy shrinking by nearly 50 percent over the past five years.
Renaissance Group is an independent group of investment banking, asset and wealth management, merchant banking, and consumer finance companies specializing in high-opportunity emerging markets.
Renaissance Group operates in Russia, Ukraine, Kazakhstan, the United Kingdom, the United States of America, Cyprus, Sub-Saharan Africa, the British Virgin Islands, Switzerland and Bermuda.
The Renaissance Group occupies a leading position in the Russian, Ukrainian and the Commonwealth of Independent States (CIS) financial markets serving both domestic and international clients.
ZSE had opened the week low with the key industrial index surging a marginal 1,23 percent to close at 150,89 points on Monday. The mining index shed 1,84% to settle at 217,12 points. The bourse closed the previous week on a low note with the benchmark industrial index closing at 150,89 points from 149,05 points.