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Zimbabwe Share Trading Reach Highest Since July 2009, AfDB Says

Feb. 27 (Bloomberg) -- The amount of shares traded on the Zimbabwe Stock Exchange in January rose to the highest level since July 2009 even as market capitalization fell, according to the African Development Bank.

A total of 383.2 million shares valued at $55.8 million were exchanged on the Harare-based exchange in the month, while market capitalization declined to $3.5 billion from $3.7 billion a month earlier, the bank said in its Monthly Economic Review for Zimbabwe.

The trades showed a “marked improvement in the average price of shares,” the AfDB said.

About 80 companies are listed on the Zimbabwe Stock Exchange. The ZSE didn’t answer calls when Bloomberg sought comment today.

To contact the reporter on this story: Brian Latham in Harare at blatham@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

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