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ZIMBABWE STOCK EXCHANGE TO REDUCE SETTLEMENT CYCLE
THE Zimbabwe Stock Exchange will reduce its settlement cycle to plus five (+5) from April 1. This will mean that equity selling would be reduced to a maximum of five days from the current seven days.
Investors would now be able to dispose of acquired shares five days after purchase, ZSE sources has said, as the bourse seeks to minimise the effects of high inflation. The cycle will be shortened to +3 in July and eventually +1 at the beginning of September, as inflation projections remain steep.
High inflation has also dampened sentiment on the money market were short-term interest rates have progressively run low.
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