Zimbabwe shut down its stock market and then ejected the continent’s oldest insurer from the bourse. Now it’s hoping to entice investors to a new exchange with a plan to package equity purchases with political-risk cover.
Justin Bgoni, who is setting up the foreign-currency-only market at the iconic Victoria Falls near the Zambian border, knows it’s a tough sell. As chief executive officer of the Zimbabwe Stock Exchange, he had to deal with trader and investor complaints after the government suspended dealing for five weeks. Trading resumed on the existing exchange on Monday.