Farai Mabeza, Senior Staff Writer 
THE Zimbabwe Insurance and Pension Apex Council (Zipac) says the continued suspension of trading in Old Mutual (OM) and PPC shares is hurting its members, which hold significant investments in the counters.
Fungibility of the two counters on the Zimbabwe Stock Exchange (ZSE) was suspended in July 2019 by the government, which claimed speculation involving the counters was driving up inflation. This was followed by an outright ban on trade of the two counters which remains in place up to March, 2022.
Zipac chairperson, Musa Bako, last week told an interface meeting with Finance minister Mthuli Ncube, that the industry would like to see a speedy resolution of the matter.
“This is affecting our members who are heavily invested in these counters. Government saw it fit to put these measures and controls on these counters, but we are hoping the matter can be expedited and trading on these counters sees the light of day,” Bako said.
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