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CSD values decline in July

CHENGETDZAI Depository Company (CDC) says the market value of securities placed on the Central Securities Depository (CSD) declined by 8,26 percent in July 2019 to $11,33 billion from $27,88 billion in June.

Campbell Musiiwa, Chengetedza chief executive

The decline was largely due to a fall in market capitalisation of the Zimbabwe Stock Exchange (ZSE).
In July, the ZSE lost 11,7 percent to $24,63 billion in market capitalisation from $27,88 billion in June 2019.
Campbell Musiwa, the CDC chief executive, said dematerialised securities accounted for 46,01 percent of the ZSE equities market capitalization as at 31 July 2019.
“During the month under review, the CSD received and processed a total of 2,831 ZSE trades. The cumulative number of trades processed in 2019 now stands at 18,416,” he said in an operational update.
He added that ZSE equities market experienced a fall in trading volumes in the month of July 2019, with a Turnover of ZWL$196.,33 million compared to ZWL$235,594 million for the month of June 2019.
Musiwa in the update also highlighted that average dematerialization penetration ratio across the listed counters was flat at 45 percent in July 2019, compared to the same ratio during the previous month.
The cumulative number of accounts opened on the CSD as at 31 July 2019 increased to 27,747 with 140 new accounts being opened in the month of July 2019. Local investors account for 94 percent of CSD accounts.
CDC processed 1,209 securities deposits in the month of July 2019. The cumulative number of securities deposits processed since going live is now at 83,399.
During the period, there were no new securities that were listed on the ZSE.