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2006 worst year for Zimbabwe Stock Exchange
REDSTAR Holdings' listing in January saved the Zimbabwe Stock Exchange from a listings drought on the equities market in 2006, a year likely to go as the worst for the stock market due to inconsistent monetary policy measures which restricted trade on the bourse.
Previously, the ZSE's last listing had been a property concern, Dawn Properties, which listed in the first half of 2004.
ZSE chief executive, Emmanuel Munyukwi, indicated to journalists recently that the listing drought represented the worsening economic situation in the country. Although private entities remained keen on turning the public to raise capital, the cost of funding such projects was exorbitant and restrictive.
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