HARARE – The Securities and Exchange Commission of Zimbabwe has licenced five new products that are destined for listing next year, including a gold fund and the another real estate investment trust.
According to SECZim chief executive Anymore Taruvinga, the five – the majority destined for VFEX – are, the Akribos Build Africa ETF – licenced on October 19, the Akribos Finsure Single Stock Exchange Traded Fund, which was also licenced on the same date, the Old Mutual Gold Fund (licenced December 5), the Old Mutual REIT (November 30) and the Vaka Sahara North South Corridor Trust (December 5) supported by Old Mutual.
The Single Stock ETF will provide some solution for suspended counters Old Mutual and PPC as government and the two companies have so far negotiated an impasse.
The new products are expected to unlock opportunities for investors and issuers.
Referenced – FIXZIM
