Zimbabwe's public investment firm eyes lisitng

July 5
2:04 AM 2013

The government of Zimbabwe is considering listing its state controlled interest mining vehicle Zimbabwe Mining Development Corporation on the Zimbabwe Stock Exchange. This mulling over is part of the government's broad-based empowerment initiative to birng shareholding down to the general public level, said a top government official.

The country's mines minister Obert Mpofu stated in an interview that the groundwork to list owned by ZMDC in mining companies are at an advanced state already. "ZMDC is not like an investment company, but a warehouse of people's shares and very soon we will be releasing those shares to the people," he explained.

He said that ZMDC and Minerals Marketing Corporation of Zimbabwe is more likely to get listed, espcially the former.

"What we are going to do now, and I have strong views about that, is we have acquired experience and our people have learnt a lot from the investment in the diamond sector that we may not even need foreign investors in that field," he said.

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