Zimbabwe launches dollar-denominated stock exchange

HARARE - Zimbabwe has launched a second stock exchange to trade solely in foreign currency, state media reported Saturday, in a move aimed at luring external investors as the country grapples with a forex crunch.

"We saw an opportunity to work with the ZSE in creating a global platform for the trading of stocks in foreign currency, and to do it in a way that promotes foreign investment into Zimbabwe," Finance Minister Mthuli Ncube was quoted as saying.The new bourse - based in northwestern Victoria Falls, the country's premier tourism destination - marked"the foundation stone" for building the town into an"offshore financial hub", said the minister.

In June authorities suspended trade on the main ZSE for a month, accusing it of complicity in illicit financial activities.

A country without a currency? What next? Next thing you will have a country without a capital or borders

I thought they hated imperialist with passion, why use the US dollar then?

USA is giving you sanctions and you still supporting their dollars. It will end in tears

In our vernacular we say, totenda dzamwa dzaswera nebenzi! We wait and see!

So they can eat it

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