The Zimbabwe Stock Exchange plans to reduce the equities settlement cycle from T+7 to T+ 3, effective 1 August, the exchange’s chief executive has announced.
Chief executive Emmanuel Munyukwi told the Zimbabwe newspaper The Herald that the new settlement period was of major concern to the exchange because high inflation had resulted in a loss of value. “We are being hampered by a lack of computerisation,” he said, “which makes clearing and settlement of trades difficult.”