Old Mutual returns to Zimbabwe market after six-year ban

Old Mutual shares resumed trading on Zimbabwe's dollar-denominated Victoria Falls Stock Exchange on Wednesday after a six-year suspension, NewZimbabwe.com reported. The stock debuted at 76 US cents and advanced 2.9% to close at 78.17 cents. The suspension was originally imposed to curb a currency rout caused by the company's dual-listed structure that allowed arbitrage. The relisting follows a protracted battle between regulators and investors over that structure, which had distorted the local market. The move signals a tentative thaw in Zimbabwe's capital markets and renewed investor confidence, potentially stabilizing the ZiG. However, the underlying vulnerability remains the government's history of using financial controls to manage currency crises.