Economic revival is not far off – Mangudya




John Mangudya

RESERVE Bank of Zimbabwe governor John Mangudya has said very few things are left for Zimbabwe to be on a great move of economic transformation.

Mangudya said Zimbabweans need to think globally and act locally for it to be on the move.

He was speaking at the occasion to mark Simbisa Brands listing on the Zimbabwe Stock Exchange (ZSE).

“Zimbabwe has all it takes to be a great economy. The country’s greatest assets include its people, natural resources, peace, stable currency and low inflation.

“The essential elements that are missing to combine to these assets are discipline, good stewardship and power of positive thinking. We need to be aggressive and seize opportunities while they exist. It is against this background that listing of Simbisa on the Stock Exchange is highly appreciated.”

Simbisa became the first company to list on the ZSE in an automated environment. It is the second unbundling after Proplastics.

“We are indeed excited and confident that Simbisa which was born  out of Innscor will continue to contribute to the Zimbabwean economy, showcase the Zimbabwean brand throughout Africa and in the process creating wealth for shareholders.

“The listing of Simbisa marks our first listing in the automated trading environment we are pleased with that and we have no hiccups in terms of dematerialization,” said Alban Chirume, the ZSE chief executive.

Simbisa listed on an opening price of 12c and closing price of 14.32c. Turnover was US$643 253 which was 88.76% of total turnover for the day of US$724 689.

A total of 4 491 994 shares were traded while the market capitalisation is at US$77.55 million making its contribution to total value at 2.24 percent.

ZSE Operations Martin Matanda said there were outstanding buy orders of a total of 2 305 773 shares which were carried forward to Monday’s trading. FinX

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