ZSE rally peeks into post-election Zimbabwe

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By Zimbabwe Investor on July 15, 2013. No Comments

ZSE has been outstanding

ZSE has been outstanding

The Zimbabwe Stock Exchange rallied to a US-dollar-era high of 223.89 last week led by foreign buyers picking up bargains ahead of a crucial general election set for 31 July.

The bourse closed Friday with a year to date gain of 53.47%

The largest counter on the exchange, SABMiller-owned Delta Corporation was among the biggest gainers since the beginning of the year with a 48% increase while London head-quartered insurer Old Mutual gained 53.36%.

The country’s largest telecommunications company Econet Wireless went up 51.11%. British-owned company BAT weathered the indigenisation storm towards the end of 2012 to jump a massive 261%.

The ZSE rally has given punters a preview of a post election landscape should the country hold a trouble-free election at the end of this month.

The elections on July 31 are expected to shape Zimbabwe’s economic landscape for the medium to long term. Rivals, Prime Minister Morgan Tsvangirai and President Robert Mugabe go head to head in a defining poll which ends a troubled four-year unity government.