Published: 06 April 2018

The foreign currency backlog for transactions conducted on the Zimbabwe Stock Exchange (ZSE) stood at $164 million, as of February 20, 2018, as the shortage of hard currency in the country keeps constraining repatriation of capital from Zimbabwe.

The bulk of the funds are locked at Stanbic Bank (custodial services) while Standard Chartered Bank (custodial services) has $36,45 million.

This is despite the existence of the portfolio investment fund (PIF) created last year, which Reserve Bank governor Dr John Mangudya said was meant "to facilitate the efficient repatriation of portfolio-related funds to foreign investors" on the ZSE.

The $5 million (PIF) facility is, however, not yet operational as the RBZ is still working on modalities.
- Business Weekly

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