HomeNewsZSE market cap surpasses $6bn: Nkala

ZSE market cap surpasses $6bn: Nkala


THE value of shares held on foreign registers could make the Zimbabwe Stock Exchange (ZSE) market capitalisation surpass the $6 billion mark, making the local bourse the biggest outside South Africa, FBC Holdings chairperson Herbert Nkala said yesterday

Report by Business Reporter

Speaking at the official launch of the 2013 Central Africa Stock Exchange (CASE) Handbook, in Harare, Nkala said the local bourse has the potential to compete with other exchanges as foreign investor participation improves. FBC are this year’s official sponsors of the handbook.

“The market capitalisation of the ZSE on Friday was $5,55 billion and if we include the shares held on global registers, the ZSE is now valued at over $6 billion and is once again the biggest bourse in the four countries. Botswana is the next largest at just under $5 billion,” said Nkala.

He said while the Industrials index closed up 4,5% in 2012, the index was now up 39% in the year. Among the other countries in the region, Botswana, Malawi and Zambia are all up around 15%. The Nigerian market has gained 36,4% in the year to date.

Nkala said while the value traded on the ZSE in 2012 declined by 6,1% to $447 million, the figure, however, remained four times the amount traded in Botswana.

The CASE Handbook profiles over 130 companies in central and southern Africa and focuses on prospects in the year ahead.

It is the only single source of information that lists the most recent financial results, the 2012 share price performance and volumes traded.

“We see the CASE Handbook as increasingly becoming a book of record, where companies have an opportunity of showcasing their assets.

“It is an aggregated information resource that is not available

from other media on the Internet,” Nkala added.

Published by New Zanj, an independent aggregator of economic data and company analysis, the CASE also lists stockbrokers and custodial services in the four markets and is intended to inform rather than advise potential investors of company prospects.

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