IN the face of weakening economic fundamentals in Zimbabwe, the Zimbabwe Stock Exchange (ZSE) has proved a safe haven for investors with the ZSE All Share Index surging 1046% in 2020. This has been carried over into 2021 as the local bourse sustained rallying momentum in the first week of February along with global shares, as the ZSE All Share Index edged 11,43% to close at an all-time-high of 4012,47 points. In 2021 so far, the market is up by over 55%, thanks to the second best January performance in a decade.
However, the past 24 months have seen no brand new listings of companies and an increase in the number of delistings. The pressures of Covid-19, the contraction of the economy by 4,1% in 2020, government interference with capital markets, high listing costs and a poor operating environment are some of the reasons ZSE listed firms have sought delisting. Furthermore, local companies have been pushed into amalgamations, unbundling and the pursuit of listings on alternative mark
Schloss Burg seen in a new light with GLP
Germany – Situated near Wermelskirchen in the Bergisches Land, Schloss Burg is one of the largest completely preserved castle complexes in Germany. Built in the 12th century as the ancestral seat of the Counts and Dukes of Berg and extensively restored between 1890 and 1914, the castle is one of the landmarks of the Bergisches Land and has been used for years as a museum and for various cultural events. The entire complex has been a listed building since 1984 and is operated by the Schlossbauverein Burg an der Wupper.
After a planning period of almost a year, Burg Castle became the scene of the Castle Illumination for the first time this October and despite, or perhaps because of, the current coronavirus situation, the event was a complete success.