Harare — MOST stockbrokers are reeling under financial distress owing to the limited number of deals they are handling on the stock market.
Since trade resumed on the Zimbabwe Stock Market in February after the equities market indefinitely closed in November last year, activity has been largely concentrated on five stockbrokers.
There are 21 registered stockbrokers in Zimbabwe.
Business has been depressed to an extent that some stockbrokers are going for "days or weeks" without handling any transaction.
Information obtained indicates that turnover on the ZSE between February and October this year amounted to US$260 million.
Of this amount, stockbrokers earned about US$10 million from the 2 percent commission they charge on every transaction. Sources said the top five stockbrokers, which are Imara, New Africa, Intefin, ReNaissance and EFE could have taken 90 percent of it.
Over the past nine months, foreign investors have been dominating the market and most of their deals were handled by these stockbrokers.
"The bulk of the funds flowing into the stock market have been coming from foreign investors and these deals have been largely handled by Interfin, Imara, EFE, New Africa and to some extent ReNaissance," said one stockbroker who requested anonymity.
"Struggling stockbrokers are reluctant to surrender their licences hoping that the operating environment will change but many of them are on the verge of collapse. This is quite certain. They are operating at a loss."
An official with the Zimbabwe Revenue Authority said most stockbrokers have not exceeded US$5 000 in tax remittances "and this is an indication that they are not getting meaningful business".
Stockbrokers are required to remit to Zimra 0,5 percent in stamp duty, 1 percent in capital gains and 0,3 percent in value added tax on every transaction.
Imara is operating well largely due to its strong regional connections. It has offices in Botswana and Nigeria among other countries.
Intefin, New Africa and EFE are also linked to foreign investors.
A dealer with ZABG said "sanctions"were also affecting the size of their transactions.
ZABG and ZB are among institutions that are under US and European Union sanctions because of the Government's shareholding.
"It is difficult for us to handle any transactions involving foreigners because of these sanctions and this is affecting business," said the dealer.
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HeyNow Afrikan Family !
On Afrikans Investing In Technology , Afrikans abroad & In Afrika
Should Invest In The Technologies around the world And Have It
Shipped To Afrika With The Know-How To Do It Ourselves.. We
SHOULD NOT just allow countries to come into our countries and build
and settle on our lands. If you will allow a stranger to run your country,
Then you will allow then to run your state. If you will allow a stranger to run your state,
then you will allow them to run your city, your neighborhood, your home, your family,
yourself.. We Black Afrikans will be free , when we stop selling ourselves !!!!!!!
America (The Whore Of Babylon) Is Trying To Re-vive it'as dying
soul via other ASIANS & CAUC - ASIANS , But Prophecy Is
Pronounced :
And in those times there shall many stand up against the king of
the south(AMERICA / BABYLON ): ALSO the ROBBERS OF OUR
PEOPLE shall exalt themselves to establish the vision; BUT
THEY SHALL FALL ! [Daniel 11:14 ]
ATTENTION AFRIKA , you have 300 million citizens spread
abroad that need your help getting back to our roots. While you
are looking to countries like America & China to uplift Afrika, Many
of us Black Afrikans spread abroad are proficient in a lot of useful
technologies. Here is a brief synopsis of some of the inventions
that Black Americans have produced. So please help us to get
home.
BLACK AFRICAN INVENTORS AND THEIR INVENTIONS
* Sarah Boone - IRONING BOARD - April 26, 1892
* John A. Burr - LAWN MOWER
* Marie V. Brittan Brown - HOME SECURITY SYSTEM - Dec 2, 1969
* Buridge & Marshman - TYPEWRITER
* George Carruthers - X-RAY MACHINE
* George Washington Carver - PEANUT BUTTER - PAINTS PAINT STAINS ETC
* W.A. Dietz - SHOE
* P.B. Downing - POSTAL LETTER BOX
* Charles R. Drew - BLOOD PLASMA STORAGE SYSTEM
* T. Elkins - TOILET (COMMODE)
* Robert Flemming Jr. - GUITAR
* George F. Grant - GOLF TEE
* J. Gregory - MOTOR
* Michael Harney - LANTERN
* Augustus Jackson - ICE CREAM
* B.F. Jackson - GAS BURNER
* H.A. Jackson - KITCHEN TABLE
* Ruane Jeter - DIGITAL TOASTER - April 14, 1987
* Isaac R. Johnson - BICYCLE FRAME
* John A. Johnson - WRENCH
* P. Johnson - EYE PROTECTOR (GOGGLES)
* W. Johnson - EGG BEATER
* Frederick M. Jones - DEFROSTER - REFRIGERATION CONTROLS AIR CONDITIONER
* Jones & Long - BOTTLE CAPS
* John H. Jordan - CLOTHES DRESSER
* Mary B. Kenner - SANITARY BELT (TAMPONS) - May 15, 1956
* Mary B. Kenner - BATHROOM TISSUE HOLDER - Nov 19, 1982
* Mary B. Kenner - BACKWASHER ( BATHTUB OR SHOWER MOUNTED) - July 29,1987
* Lewis Latimer & Nichols - ELECTIC LAMP
* W.A. Lavalette - PRINTING PRESS
* Maurice W. Lee PRESSURE COOKER
* A.L. Lewis - WINDOW CLEANER
* John L. Love - PENCIL SHARPENER
* Tony J. Marshall - FIRE EXTINGUISHER
* Alexander Miles - ELEVATOR
* Jan E. Matzeliger - SHOE LASTING MACHINE
* W.A. Martin - LOCK
* Garrett A. Morgan - GAS MASK - Traffic Signal
* Lydia Newman - HAIR BRUSH - Nov 15, 1898
* Alice H. Parker - HEATING FURNACE - Dec 23, 1919
* J.F. Pickering - AIR SHIP (BLIMP)
* Purdy & Sadgwar - FOLDING CHAIR
* W.B. Purvis - FOUNTAIN PEN
* L.P. Ray - DUST PAN
* W.H. Richardson - BABY BUGGY
* G.T. Sampson - CLOTHES DRYER
* .W. Smith - LAWN SPRINKLER
* J. Standard - REFRIGERATOR
* T.W. Stewart - MOP
* Paul E. Williams - HELICOPTER
* Granville T. Woods - Roller Coaster
* Thanks to The Black Inventors Museum *
* Address : P.O. Box 76128 - Los Angeles , Calif. (90076)
* Phone (310) 859-4602)
* Director : Ghanaian Mr. Hamza Salifa
AND
ONE AFRICA TOURS & SPECIALTY SERVICES LTD.
* Major Contributor of Information : SEESTAH Imahkus Nzinga Ababio Okofo
[ http://www.oneafricaghana.com/ ]
P. O. Box CC 1251 - Cape Coast
Ghana - West Africa
What can you do to help us ?
Start with contacting Pan-Afrikanist organizations like BLACK
STAR MEDIA (Modelled after Marcus Garveys Vision For Afrika) : They are at
[ www.libradio.net ]. The CEO of BLACK STAR MEDIA is Keidi-Obi
Awadu. He has been on the frontline fighting for our freedom for
over 30 years.
It's Not A Question Of Other Learned Societies.
It's The INFERIORITY COMPLEX WE HAVE TO SHED
St. Paul In A Letter To The Christians In Rome Said :
" For I say, through the grace given to me, to every man that is
among you, NOT TO THINK OF HIMSELF MORE HIGHLY Than
He Ought To Think; but to think soberly, according AS GOD HAS
D EALT TO EVERY MAN THE MEASURE OF FAITH .
We All Should Think Highly Of Ourselves, Keeping In Our Mind
That God Gave Us Dominion Over The Earth
, NOT EACH OTHER. !!!!!!!!
So let's please help us to return to our Mama Afrika as Israel
under Moses escaped their exile !!!!!!!
MAMA AFRIKA YOUR CHILDREN WANT TO COME HOME !!!!!!!
[Check Out :
WHO BROUGHT THE SLAVES TO AMERICA ?
[ http://isohunt.com/torrent_details/42787621/Who+brought+the+slaves+to+ameri ca?tab=summary]
for full length video
FRITZ SPRINGMEIER A Bold Christian Truthseeker The Top 13 Illuminati Bloodlines
[ http://www.youtube.com/watch?v=k73Q2_f4vKU ]
WAKE UP ! STAY UP MY BROTHERS & SISTERS !
[ www.libradio.net ]
[ www.gcnlive.com]
- Life Is a Game. Have Fun. [ Luke 18:17 / Isaiah 11:6 ] :