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Zim economy dives on bond note jitters and investor fears

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Harare – A nosedive in turnover on the Zimbabwe Stock Exchange (ZSE) as well as apprehension over the introduction of local bond notes next month are worsening investor apprehension and denting confidence in the country's recovery prospects.

Zimbabwe has dug in its heels over the introduction of local bond notes, which the central bank insists are being introduced to incentivise exporters. But negative effects on the economy have already begun to surface, with analysts and executives saying investment on the ZSE has taken a knock.

“Confidence in the economy and the financial services sector is declining. Visitors are failing to use their cash cards in the country owing to liquidity challenges and we will see this having an impact on business confidence in tourism,” a business executive told Fin24.

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