Govt seeks investor for ZSE stake

Govt seeks investor for ZSE stake

HARARE, February 8 (The Source) – Government says it is looking for potential investors to take up part of its shareholding in the Zimbabwe Stock Exchange (ZSE).

The local bourse, previously a non-profit member owned organisation, was last year transformed into a private company with government owning 32 percent of the exchange while stockbrokers control the remaining 68 percent shareholding.

Announcing the company’s new board on Monday, finance minister Patrick Chinamasa said government was ready to reduce its shareholding.

“We are prepared to shed off a portion to any strategic partner that you might want to invite into the stock exchange from the private sector,” said Chinamasa.

“I also want to encourage the pension’s funds, insurance companies and commercial banks to take up a stake in the company to help capitalize the stock exchange.”

The new board, which will be chaired by Carol Sandura, comprises of Benson Gasura, Daniel Muchemwa, Xolani Moyo, Alban Chirume and Bartholomew Mswaka.