Zimbabweans are seemingly losing interest on long term investments with revelations indicating US$21 million worth of shares remain unclaimed on the Zimbabwe Stock Exchange (ZSE).
The development has also raised concern in the insurance and pensions industry where investors have also shown little interest on the back of rampant allegations of failing to get the real value of investment.
The adoption of a multiple currency system from the Zimbabwe dollar in 2009 while having created stable macro economic conditions has however resulted in loss of investor confidence as most people feel having been shortchanged in terms of their investments.
At its peak the ZSE which is a measurement of the economic performance had 200 000 active accounts, but now it has a measly 7 000 active accounts.
The switch to the US dollar, a stronger currency, meant a huge loss of value for stocks held on the ZSE as they were now worth much less than the price they had been acquired.
While shareholders are not claiming their certificates they are still attracting dividends and this is revenue that is being lost by beneficiaries.
In 2012 the Securities Commission of Zimbabwe issued a directive to all securities dealing firms instructing them to register all securities into the names of their respective beneficial owners and subsequently delivering securities to their owners.
Five years down the line, the shares remain unclaimed a situation which is presenting headaches for the authorities.
One stop strategies such as ensuring easy access to the share certificates and registers of shareholders that are kept in one place in electronic form at the central securities depository have been met with minimum response from the shareholders.
Foreign investor appetite on the capital markets has also been subdued with authorities now working to attract both domestic and foreign interest through intensive promotional strategies launched last month.