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.
Read the original article on Financial Gazette.
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