The Sunday News
INVESTORS on the Zimbabwe Stock Exchange (ZSE) lost a cumulative $1 billion in the week to Wednesday as stocks traded mixed amid uncertainties brought about by the Covid-19 pandemic.
World over, investors have incurred huge losses following the outbreak of the Covid-19 pandemic which has caused severe disturbances to economic activity.
The World Bank already sees the sub-Saharan Africa region’s economic growth fall sharply from 2,4 percent in 2019 to between -2,1 percent and -5,1 percent in 2020.
Agriculture is also expected to significantly contract due to disturbances caused by the pandemic and driving the region into severe hunger and poverty.
Agriculture production is seen contracting by between 2,6 percent in an optimistic scenario and up to 7 percent if there are trade blockages.
Agriculture is one of the key drivers for the region, as well as tourism sector, which has already suffered due to travel restrictions, with hospitality groups in Zimbabwe closing their facilities.
ALL SHARE
The All Share index closed the week higher at 466.68 points after adding 0.18 points (0,04 percent). Old Mutual Limited added $0,2979 to $39,0079, African Sun Limited gained $0,0850 to end at $0,5100 and Zimre Holdings traded $0,0500 firmer at $0,4400. Ariston Holdings rose by $0,0500 to $0,4500 and Art Holdings was $0,0380 higher at $0,5200.
Trading in the negative: Meikles and RioZim both lost $0,6000 to close at $5,8000 and $5,1000 respectively. Masimba Holdings Limited was $0,0475 weaker at $0,3525 and ProPlastics was down by $0,0408 to $1,6021 and Edgars was $0,0325 lower at $0,2675.
