Zimbabwe Stock Exchange (ZSE) witnessed a tumbling of the volume of shares traded in the first quarter to 297 386 164 compared to a similar period last year. However, the value of shares traded for the first quarter surged by as much as 204% to $144 555 983 comparable to the first quarter of 2017.
The highlight of the volume of trade data is that foreigners are still bullish about Zimbabwe’s prospects as they have bought more than they sold in the first quarter. The ‘Zimbabwe is open for business’ narrative seem to be the key in urging foreign investors to increase or maintain their long (buy) positions.
With the looming elections mid this year, the second quarter could be primed for a decrease in both the volume of trade and the number of stocks bought by foreign investors because of the political uncertainty that will hang around till the election results.