Zimbabwean Blue Chip Counters on a rally
The major blue chip
counters in Zimbabwe have been on a rally due to an increased appetite by
foreign investors after the passing of the Referendum by the principals in the
Unity Government. This is seen as a major stepping stone by the invetsors as it
clears most of the sticky issues that have been holding back the much hyped
elections which will definitely determine the way for the Zimbabwean markets.
Most of the Zimbabwean stocks on the local bourse are undervalued and they have
the greater potential for extensive growth thereby rewarding investors with
good if not excellent returns. The drafting and passing of policies and
bills in Zimbabwe have led to the shakiness of the market and has
brought a lot of uncertanities thereby affecting trade volumes much to a
greater extent. Hopefully with the passing of the referendum investors will be
pinning their hopes on the relaxation of the terms of the Indigenization Bill
which has ripped the mining sector and is heading towards the four only foreign
banks in the market.
Econet wireless shares
are trading at their all time high of $6.60 per share with BAT also trading at
$5.50 per share reaching its all time high also. this is a good sign for the stocks
but the question thats on everybody's mind for how long will the rally continue
and how are the political and economic conditions going to affect the recording
breaking trade volumes in the local bourse.
Author
ZimAfriFinance
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