Tough Year for ZSE

In an exclusive interview with Radio VOP, Mswaka, a fomer Chairman of the bourse, said: “This (2011) is going to be a very tough year for all of us investors”.

He said the fact that we are now “not using the worthless Zimbabwe dollar” meant that few people could come onto the bourse as opposed to the days when cash-strapped and naughty Zimbabweans “burnt cash” and spent it on buying huge chunks of shares worth billions thereafter.

“It will be difficult,” Mswaka said. “We just have to brace up for a very challenging year indeed in 2011.”

Meanwhile, the ZSE says it is going full throttle to try and teach Zimbabweans about how the stock exchange and investment operates.

Securities Commission of Zimbabwe (SECZ) Chief Executive, Alban Chirume, said his association would embark on a massive campaign to educate the public on how they can participate on the stock market given their “subdued interest” in investing.

“We are embarking on an extensive consumer awareness programme to educate people on how to participate on the ZSE,” Chirume said in an interview.

“The programme includes participating on schools’ career days, conferences and Expos where we use the platform to create awareness on investing on the ZSE and the role of our organisation.”

Since it was formed, the SECZ has held various successful awareness campaigns such as at the Zimbabwe International Trade Fair (ZITF), Harare Agricultural Show (HAS), and at several school days in Bindura, Chitungwiza, Mhondoro and the capital city, Harare.

The SECZ has also made presentations at the Confederation of Zimbabwe Industries (CZI) conference, the Zimbabwe Association of Pension Funds (ZAPF) conference and at the Zimbabwe National Chamber of Commerce (ZNCC) committee meeting and to tobacco farmers in Zimbabwe who had come to listen about investments.

The farmers earn millions from the Tobacco Sales Floors (TSF) and have pledged that they now want to “invest in Zimbabwe – our lovely but poor country”.