Zimbabwe stock exchange up by over 300,000% in ‘07

Wednesday, January 2, 2008

HARARE/JOHANNESBURG -- The Zimbabwe Stock Exchange (ZSE) grew by a record 322,111 percent in 2007, reports said Tuesday. By close of trade on Monday, the industrial index gained almost 4 percent to 1,911,538,281.84 points, although trading was mixed, the state-controlled Herald said. The mining index put on a record 20.83 percent to 2,363,257,849.25 points, the newspaper said. As annual inflation gathers pace — it is now estimated to have topped 24,000 percent - investors have been flocking to put their money in the ZSE.

With around 80 listed companies involved in activities such as manufacturing, agriculture, mining and retail, the ZSE provides investors with returns that are ahead of inflation.

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