BUSINESS REPORTER
Zimbabwe Stock Exchange (ZSE) was down 33.7% to ZWL$3,211,404 in
2019 from ZWL$4,829,677 realised in the previous year after expenditure
more than doubled despite a growth in total income.
Expenditure spiked to ZWL$22,247,579 from ZWL$10,112,128 in 2018 fuelled by a jump in other operating costs after the bourse splashed more on brand visibility marketing expenses and software licensing costs.
Premises costs were up to ZWL$750,101 last year from ZWL$157,523.
Total income was up 89.7% to ZWL$43,465,556 from ZWL$18,165,549 in 2018 driven by a growth in ZSE Levy, annual listing fees, and data vending among others.
Annual listing fees were ZWL$7,506,948 up from ZWL$5,209,078 in the previous year.
ZSE Levy raked in ZWL$14,797,175 in 2019 up from ZWL$11,510,974
recorded in the previous year. Revenue from data vending drew 810%
to ZWL$1,208,170 last year up from ZWL$132,677 in 2018.
Meanwhile, ZSE shareholders are meeting on July 17 for the second
annual general meeting (AGM).
The AGM was supposed to be held on June 30 but was pushed to this month. In an earlier notice, ZSE said the board of directors was confident that the “postponement of the AGM will allow them to conclude the relevant agreements to be discussed and approved at the upcoming AGM”.
The AGM comes at a time trading on the bourse has been suspended to
pave way for investigations into illicit financial activities after the local currency took a rout against the greenback.
