FIRST Mutual Holdings (FML) says it will intensify efforts to diversify its portfolio after recent market developments that have seen many investors losing significant amounts on the Zimbabwe Stock Exchange.
This comes as the country’s main bourse seems to have lost its standing as a hedge against the high inflation in the southern African economy.
The market had trended upwards since 2016, with inflation — driven mostly by currency ambiguity — pushing demand for stocks and other non-cash investments.
Until May, when President Emmerson Mnangagwa unveiled a slew of economic policies intended, among other things, to discourage market speculation that, according to authorities, was fuelling inflation, this tendency had gotten
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