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Zimbabwe trading to resume, but Old Mutual and PPC stocks still suspended

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Harare government halted trading on Zimbabwe's stock market in June, saying it was being used to undermine the Zimbabwe dollar

MacDonald DzirutweHarare — Zimbabwe's stock market will resume trading next week after a state financial intelligence body concluded an investigation, but three stocks also listed on other exchanges, including Old Mutual, will remain suspended, finance minister Mthuli Ncube said on Tuesday.

The move, which included the suspension of some mobile phone-based payments, was intended to arrest the slide of the Zimbabwe dollar at a time of severe economic crisis but has spooked some investors already skittish about Zimbabwe. But there was no evidence that the companies, Old Mutual, PPC and SeedCo International, were involved, Ncube said.

 

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