Company cashes in on bond note fears


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john mangudya and bond coins

Investment advisory firm Imara Holdings Limited says that the introduction of bond notes has benefitted  its asset management and stockbroking business in Zimbabwe in the half year ended October 31.

Government’s plans to introduce a token currency known as bond notes has sent investors scurring for cover in equities as they fear a loss of value in bank deposits.

 Last month Imara reported that the situation had resulted in the rise of hard assets and equities purchases.

“Imara Zimbabwe has been a beneficiary of the proposed introduction of bond notes and  resultant switch to equities, benefiting our Zimbabwe asset management and stockbroking business, ” the company said in a trading statement.

Imara is an independent, investment banking group with offices in Angola, Botswana, South Africa and the UK and associate offices in Malawi, Mauritius, Zambia and Zimbabwe.- The Source

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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