Econet Wireless Zimbabwe has again reaffirmed its blue chip status in Zimbabwe as the value of its shares on the Zimbabwe Stock Exchange now accounts for just under 20 percent of the bourse’s market valuation.
The company’s market value has just hit $4 billion.
The Zimbabwean telecoms operator also runs several subsidiaries in the financial services, energy, information technology, and broadcasting services.
Econet Zimbabwe’s $4 billion market valuation makes it the biggest stock on the local bourse.
Cassava Smartech (an Econet Zimbabwe subsidiary that was separately listed on December 18, 2018) is the second biggest stock on the ZSE with a valuation of $3,86 billion valuation.
Zimbabwe’s biggest beverages-maker, Delta Corporation Limited comes in third position with a market valuation of $3,8 billion.
The ZSE has a current market capitalisation of around $19 billion.
The ZSE is Zimbabwe’s sole, official stock exchange.
It maintains several indices including the Mining Index (comprising mining companies), Industrial Index (comprising all companies except those in the former), and the benchmark All Share Index (comprising all companies on the market, which was introduced last year).