The relief sought by the NMF was misconceived and the court's approach therefore correct, writes Serjeant at the Bar.
High level clouds. Mild.
The Zimbabwe Stock Exchange is the latest institution in the southern African country to be hit by critical foreign currency shortages.
Investors in Zimbabwe have intensified hedging activity after President Robert Mugabe dismissed Vice President Emmerson Mnangagwa.
The Zimbabwe Stock Exchange has breached its all-time high as stocks continued to rally unabated, making the bourse Africa's top riser.
Zimbabwean stocks have closed on a four-year high as investors continued to pile into the equities market amid limited investment options and currency concerns.
The main Industrials index of Zimbabwe Stock Exchange was up by 27.4% in May, as investors continue to seek refuge in real assets amid the country's cash crisis.
The Zimbabwe Stock Exchange has lost a further 10.36% as parliamentarians set in motion the plan to impeach President Robert Mugabe for being a “source of instability” in the country.
Foreign investors are continuing to sell off Zimbabwean stocks amid the erosion of currency values in local banks as well as struggling entities.
Investors are using Old Mutual as a way of repatriating their investments outside the country, buying stocks and then moving them to either London or the JSE, say analysts.
Investors buying into the equities market as a currency hedge have helped make the Zimbabwean Stock Exchange Africa’s top performer in dollar terms for the first six months of 2017.
The Zimbabwe Stock Exchange's main Industrials index has reached the 150.9 level for the first time in two years, as investors continue to buy into assets.
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