Old Mutual to consider allowing Zimbabwean investors to sell frozen shares
Old Mutual is considering a proposal to allow investors in Zimbabwe to sell stock that was frozen in 2020 owing to currency crisis concerns.
Under the plan, Zimbabwean investors would get a one-time opportunity to sell the shares on Johannesburg’s stock exchange, according to Shelton Sibanda, chairman of the Fund Managers Association of Zimbabwe. Authorities froze the shares in June 2020, complaining that trading in the South African insurer’s stock was contributing to a local currency crisis. South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.
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