As we await the budget

ON Thursday, like most Zimbabweans, my eyes will be glued on the TV to find out what the acting Finance Minister Patrick Chinamasa have in store for us in his 2009 National Budget.
Both business and ordinary people have expectations but these will mainly depend on whether dollarization will come as part of his announcements of the day.
The major expectation is of the currency.
Like many I would argue that business will only make sense using a currency which is not the local dollar be it for investment or for transacting.
As we all know the ZSE has joined a growing list of institutions that have requested to transact in foreign currency among others such as Asset Managers, schools, farmers, the list is endless.
Listed companies have even gone as far as seeking approval from the ZSE to present their results in US dollars while some like Falgold had seen the light and implemented it. However, like I said this will all be determined on Thursday.

Still no end in sight for the ZSE

As the month comes to an end in the coming week we still find ourselves with no investment options available most investors. We ZSE still caught up in its stalemate investors like you and me will have to continue to count our losses especially when it comes to the value of our shares on the non trading bourse.

Like all investors i cannot wait for trade to resume but the biggest question i find myself with is in what form trade will come back in.

M&F heads for loss

Mutual & Federal's profit warning on Thursday was the latest example of how International Financial Reporting Standards (IFRS) have scrambled insurance accounting.

The trading update says headline earnings will be down by 100%-120% - in other words a loss is in prospect for the year to December.