Zimbabwe: Finsec Plans to Introduce New Products

Zimbabwe's sole alternative trading platform (ATP) provider Financial Securities Exchange (Finsec) is mulling plans to introduce other financial asset products such as exchange-traded funds (ETFs) and cater for the small to medium enterprises (SMEs) in a bid to expand the Zimbabwean market.

After successfully listing Old Mutual Zimbabwe (Omzil)'s US$68 million worth of B-class shares that were issued under the indigenisation programme, Finsec CE Collen Tapfumaneyi told businessdigest last week that the introduction of ETFs -- which are an investment fund traded on stock exchanges much like stocks and hold assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day -- is among the company's priorities.

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