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*Zimbabwe Suspends Buying Shares In Old Mutual, PPC, SEEDCO And Disposing Them In Offshore Markets* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?xy Zimbabwe’s Finance Minister Professor Mthuli Ncube has suspended fungibility of shares in Old Mutual, PPC, Seedco. The suspension was announced through General Notice 583 of 2020 that was published in the Government Gazette released on 15 March 2020. ---------- Pindula is best experienced with the Android App. *Download APK here:* https://zero.pindula.co.zw/media/apps/apks/pindula23.apk _On Econet, Pindula does NOT use your data_ ---------- Before the suspension, investors could repatriate earnings by buying shares on the ZSE and selling them abroad. The share price comparison gave rise to the Old Mutual Implied Rate, usually above the parallel market rate, which was being used by some as an exchange rate gauge. We present the government gazette below. In 2008, the government of Zimbabwe also suspended the fungibility of shares for all dual-listed companies but the local currency continued to lose value against other currencies. It remains to be seen if the strategy is going to yield expected results this time. itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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