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Zimbabwe stock market register growth

In spite of a raging financial and liquidity crisis, t rading on the Zimbabwe Stock Exchange (ZSE) remains bullish, and netted US$48 million last month, officials said Tuesday.

The bourse, one of the largest in Africa, has strongly recovered after a new, bu siness-friendly, coalition government was ushered into office in February.

Officials said last month’s trading value on the ZSE was US$2 million more than in August, and expected the trend to continue as both local and foreign punters take positions in the country’s recovering economy.

Total capitalisation of the bourse stood at US$3.9 billion last month, more than three times the exchange’s capitalisation of US$1.25 billion earlier this year.

The growth is in sharp contrast with the performance of bourses elsewhere in the world, where equity markets have been severely battered by the global financial crisis.

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