RBZ , ZSE assure foreign investors
The Reserve Bank of Zimbabwe and the Zimbabwe Stock Exchange have assured foreign investors that the remittance of capital, capital appreciation and dividends, is first priority in the category of payments. This comes as volumes on the ZSE have fallen to record lows as most investors are experiencing delays in the remittance of capital.
However, in a joint statement, the two institutions emphasised that settlement of transactions, capital appreciation and dividends, is in the first priority category of payments to ensure that foreign investors on the ZSE are not disenfrachised access to their capital.
Data from the ZSE shows that interest from foreign buyers continues to wane with purchases from that segment falling nearly 40 percent in the seven months to July. Foreign bought turnover amounted to $48,69 million against $80,32 million realised in the same comparable period last year. This was the lowest foreign inflow since dollarisation on a like-to-like basis, a situation market players attributed to the delays in remittances which usually drag for about two to three weeks.
