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Foreign firms urged to list on ZSE |
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Wednesday, 22 February 2012 17:14 |
 Players in the mining sector are calling on foreign owned mining companies to list on the Zimbabwe Stock Exchange (ZSE) for the benefit of local investors.
Concerns have been raised as to whether foreign owned mining conglomerates operating in Zimbabwe but listed in external markets such as the JSE in South Africa, Australian Stock Exchange and the Toronto Stock Market are committed to increasing share value within the economy.
While the foreign owned mining giants in the country are considering listing on the ZSE, stakeholders are questioning delays in ensuring that the plans become a reality.
A chief dealer for MMC Capital, Mr Tinashe Mapara says the failure by externally owned mining companies to list on the local markets means that the value of local resources is being used to benefit foreign investment portfolios.
“We are still waiting for their response and we hope something might be done,” Mr Mapara said.
Zimbabwe Miners Federation President, Mr Trynos Nkomo says the listing of foreign owned mining companies on the local stock exchange will enable small scale miners to increase income returns by taking part in the listed counters.
“We are also waiting for the initiative and we hope this will materialise,” said Mr Nkomo.
Currently, there are four listed resource counters on the ZSE yet several heavily capitalised foreign owned mining companies are not listed on the bourse, a move economic observers say is leading to depressed value of shares.
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