Investors' interest in Zimbabwe may have risen since soldiers forced long-standing President Robert Mugabe to quit in November, but figuring out when to re-enter the southern African economy is causing a dilemma.
While Zimbabwe, whose economy all but collapsed under Mugabe, has no traded bonds, its stock market, with a capitalization of almost $12 billion, is bigger than those of Botswana, Ghana and Zambia combined.
Some investors measure the premium by taking the difference between the price of Old Mutual Plc's stock in London and in Harare, Zimbabwe's capital.
While the gap has shrunk since Mugabe's ouster, Harare shares still cost twice as much as the London ones, when converted to dollars.
- Daily News
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