Pension Funds open 47 new CSD accounts

  • Pension Funds open 47 new CSD accounts
    Staff Writer
    Pensions Funds opened 47 new accounts on the Chengetedzai Securities Depository in December 2023, bringing the cumulative number of accounts on this platform by this sector to 897.
    This is, however, sadly, a mere 1,93% of the total accounts opened on this platform, as participation in the pensions and insurance industries remains low.
    On the other hand, only 3 insurance accounts were opened on the platform during the month, bringing the total number of insurance accounts opened on the platform to 103.
    Data availed by the Chengetedzai Securities Company shows that insurance investors’ only account for 0.22% of the platform.
    Individuals continued to dominate the number of accounts opened, accounting for 52.37% of the total accounts on the CSD during the period.
    However, in terms of market value, corporations and pension funds held the most significant value on the CDCCSD, accounting for 30.77% and 26.60%, respectively.
    “In the month of December 2023, a total of 100 new accounts were opened, bringing the total number of accounts opened this year to 2541.
    “As of December 31, 2023, the cumulative number of accounts opened on the CSD since inception stood at 46,507. Local investors continued to dominate the number of accounts opened, accounting for 95.13% of accounts opened as of December 31, 2023, the CDC said.
    Dematerialized securities registered on the CDC (CSD) accounted for 57.06% of the total market capitalization for dematerialized shares on the Zimbabwe Stock Exchange, with their total value standing at ZWL$9,593 trillion (USD 1.65 billion) during the period.
    The average dematerialization penetration ratio (Demat Ratio) across all counters was 62.95% at the close of the year.
    “The Zimbabwe Stock Exchange (ZSE) equities market capitalization closed the year 2023 at ZWL$15,255 trillion.
    The total value of trades settled through Chengetedzai Depository Company Limited’s (CDC) Central Securities Depository (CSD) system in the month of December was ZWL 53,385 billion. The cumulative number of trades processed on CDC CSD to date in 2023 closed at 49,924, CDC said.