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Harare - The Zimbabwe Stock Exchange on Tuesday lost a further 10.36%
as the country’s parliamentarians set in motion the plan to impeach President
Robert Mugabe for being a “source of instability” in the country.
He is also said to have shown disrespect for the rule of law, and is allegedly to blame
for an unprecedented economic tailspin over the past 15 years.
The Speaker of Parliament, Jacob Mudenda, has since outlined rules to guide the
motion to impeach the president and has told Parliament that it will have to
convene the motion at 16:30 at Rainbow Towers Hotel on Tuesday.
The Zimbabwean Parliament is too small to accommodate a joint sitting of both senate and parliament.
By the close of trading, the ZSE’s main Industrials Index had lost 10.36% to
347.25, while the market capitalisation had lost $5.2bn or 33% since the military
stepped in on Wednesday last week.
Old Mutual, which had reached a high of $14.30, has almost halved since Tuesday
last week and is now trading at 7.41 cents.
