Connect with us

Hi, what are you looking for?

Jewish Business News


Allan Gray Still Hopeful About Zimbabwe

Allan WB Gray


Zimbabwe equities hit a two year low, but Allan Gray Ltd is not worried, according to Moneyweb. Zimbabwe accounts for 23% of the company’s $235 million Africa ex-South Africa Equity fund, the largest exposure after Nigeria. The fund shed 7.7% in 2014. Zimbabwe’s Stock Exchange dropped 19%, the lowest of nine African indexes covered by Bloomberg.

Allan Grey has $39 assets under management, and has shares in Delta, the African branch of SABMiller, which makes Chibuku sorghum beer, and Econet Wireless Zimbabwe, the country’s leading mobile company. Although the Zimbabwe exchanged fell hard, it has had 5 up days in a row, the longest good streak since September.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Andrew Lapping,  a South African based manager for Allan Grey said, “If anything, we’re more positive on stocks because they’ve been pretty weak. We’ve never been positive on the outlook for the economy because they’re in a very tough place. What we’re positive on is the quality of some Zimbabwean businesses that have managed to weather difficult times well.”

Investec Asset Management says it is not buying shares of Zimbabwe stocks, even at current low levels. Economic growth in the country was only 3.1% compared to 10% between 2009 and 2012. Allan Gray finds solace in the dividend rates of the portfolio holdings. Delta raised its yield by 4%. Despite weakness in the larger economy, Econet saw subscribers grow by 6% and revenue rise by 4%.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News