ZSE increased minimum transactions by 900%

By Leafias Mazviro

The Zimbabwe Stock Exchange  (ZSE) has increased minimum deposits to ZWL5000 from ZWL500 after the local currency recorded a worst decline in mid-June where week on week losses widened by 38% taking the premium to over 50%.

The custodial fees have increased from ZWL200 to ZWL2000 while the minimum was reviewed from ZWL1000 to ZWL10000 and the trading amount from ZWL500 to ZWL5000.

According to the circular, all these new minimum transaction thresholds on ZSE Direct being effect starting this Monday.

Justin Bgoni, the bourse’s chief executive officer said, “In trying to keep up with the changing economic environment, the Zimbabwe Stock Exchange Limited (“ZSE”) hereby notifies the investing public of the new minimum transaction thresholds on ZSE Direct with effect from Monday 26 June 2023.”

The ZSE Direct is an online and mobile platform allowing users to trade securities remotely. It was introduced in 2019 and one of its biggest advantages besides being cheap is that buying, selling and checking your balances are easy to find and navigate.

The Zimbabwe dollar has been depreciating since its reintroduction in 2019. The currency recorded in worst decline in mid-June where week-on-week losses widened by 38%, taking the premium to over 50%.

 

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