Zimbabwe: Old Mutual Listed Equities Value Drops

Financial services behemoth, Old Mutual (OM) says the value of its listed equity investments has so far this year fallen by 11,5 percent due to self-correction on the domestic bourse which experienced a relentless bullrun last year before the fall of former president Robert Mugabe in November.

OM chairman, Johannes Gawaxab, said profits had been negatively affected by over $40 million as a result of the Zimbabwe Stock Exchange (ZSE)'s corrective retreat, which came after a surge in non-banking investment returns.

See What Everyone is Watching

More From: Financial Gazette

Don't Miss

AllAfrica publishes around 600 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.