Zimbabwe: ZSE to Operate Four Hours a Day Throughout Covid-19 Lock Down

Zimbabwe began a 21-day nationwide lockdown on March 30, 2020, following neighbour South Africa in implementing some of the world's toughest anti-COVID-19 measures likely to hurt an economy already suffering hyperinflation, food and water shortages.

The Zimbabwe Stock Exchange (ZSE) will be trading for four hours a day during the 21-day Coronavirus national lockdown to avoid a total halt of the economy.

In a trading brief issued this week, ZSE chief executive, Justin Bgoni said Finance Minister, Mthuli Ncube gave the equities market permission to trade.

"After consultation with the Ministry of Finance, the Securities and Exchange Commission of Zimbabwe and the ZSE continue trading during the lockdown," he said.

However, the market will not be open to visitors during the period and all key stakeholders are encouraged to communicate through email and our social media platforms.

Skeletal staff will be manning the office under the following conditions; frequent sanitisation when going in and out of the premises, to maintain a distance of at least two meters from the next person at all times, frequent disinfection of surface areas, wash hands thoroughly for at least 20 seconds with soap and running water, when coughing or sneezing cover mouth and nose with tissue or flexed elbow among other conditions.

The equities market highlighted that any member of staff showing Covid-19 symptoms will immediately be isolated and guidance will be sought from health authorities.

"A register of personnel working at the ZSE during this lockdown will be submitted to the Finance Ministry and all ZSE market participants that will be working from their offices are required to observe similar measures including reporting to the Ministry," he said.

Meanwhile, data gathered on Monday showed that Fidelity Zimbabwe was the top gainer recording plus 19.65 %.

Globally, trades on the stock markets continue to dwindle owing to the impact of Covid 19 which threatens to push economies into a recession.

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