THE recent spike in corporate buybacks on the local stock market is expected to sustain the renewed uptick in trading activity following a difficult start to the year.
Trading on the country’s primary bourse the Zimbabwe Stock Exchange was subdued for the greater part of the first half of the year with analysts attributing it to the shortage of local currency liquidity on the market as the Reserve Bank of Zimbabwe (RBZ) closed taps on money supply in attempts to contain exchange rate fluctuations.
The USD-quoted secondary market the Victoria Falls Stock Exchange was similarly lukewarm as foreign currency remained scarce in the economy.