EFE Securities •

3 weeks ago •

Market Commentary

MARKET COMMENT-31.03.2026

Econet bids farewell to ZSE after 27 years… 
Telecommunications group, Econet Wireless Zimbabwe has 
pulled the plug on its Zimbabwe Stock Exchange listing, closing 
the chapter on a 27-year public market journey that began in 
1998, further shrinking the number of listings on the ZSE. 
Property concern Mashonaland Holdings led the laggards of 
the day as it dropped 15.00% to $0.9790 while, sugar 
processor Star Africa eased 9.69% to settle at $0.0303. 
Agriculture concern Ariston was 7.69% weaker at $0.0300 
while, sugar producer Hippo was 7.00% down at $8.0000. 
Blue-Chip counter Econet was 6.81% lower at $10.2068 as 
146,000 shares worth $1.49m exchanged hands. Trading in the 
positive was TSL that jumped 14.80% to settle at a VWAP of 
$4.6493 while, Proplastics was 13.99% higher at $1.5100. Tea 
producer Tanganda that recently completed a right offer 
edged up 7.47% to $1.2300 while, roofing producer Turnall 
firmed up 5.79% to $0.1005. Spirits and wines producer AFDIS 
added 3.00% to close trading at $14.0000. Elsewhere, the Cass 
Saddle ETF was 0.50% up at $0.8000 as 2,500 units traded. The 
Tigere REIT trimmed 2.83% to end pegged $1.0198 as 6.32m 
units exchanged hands in the session. The Revitus REIT 
advanced 13.43% to settle at $2.4000. 
 
The All-Share Index was 2.11% down at 358.55pts while, the 
Blue-Chip retreated 2.83% to 365.10pts. On the contrary, the 
Agriculture Index was 1.14% up at 259.80pts while, the Mid 
Cap Index was 1.92% higher at 358.24pts.  
 
In other news, First Mutual Holdings released it FY25 results in 
which its revenue rose by 10.24% to settle at US$265.82m and 
declared a dividend US0.1531cents and ZWG0.9679 cents. The 
Morgan and Co- Made In Zimbabwe ETF released its FY25 
results in which its investment income rose by 35% to $1.19m 
to translate into a PAT of $552,781 while, no dividend was 
declared for the fund. FMP also followed suit as its reven