Published: 27 August 2013

The Securities Commission of Zimbabwe has condemned companies' share buybacks arguing the schemes were exacerbating the liquidity crisis and "keeping the ZSE obscure".

Tafadzwa Chinamo, SecZim chief executive said share buybacks were common and ideal in advanced markets where there are funds whose overriding objective is to buy back shares.

He said the buybacks worsen the liquidity crisis by reducing the number of shares in circulation.
- dailynews

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