The Zimbabwe Stock Exchange edged out gains of 2.11% in December to close 2021 with impressive gains of 321.50%. It has been an eventful year on the ZSE and Zimbabwean capital markets in general. First, we will look at the month on month picture then have a look at the year.
December gains
Though the exchange only gained 2.11% in the month there were still some companies that made big gains in the month. ZECO recorded another surprise trade to double its price. Fidelity and rainbow Tourism Group bounced back to put on 64.43% and 56% respectively. CFI closed the year of its return with another gift to shareholders gaining 29.78%. AfDis also prepared for the festivities adding 13.64% in the month. OK (18.90%), Econet (31.12%), BAT (18.56%) and General Beltings (16.19%) showed resilience. Medtech seems to be finding some sort of direction after the consolidation exercise as Medtech B shares gained 38.89% in December. Bindura, Padenga, new entrant Caledonia and Old Mutual Zimbabwe Limited all recorded gains on their respective exchanges.
Counter | % change | |
1 | Zeco | 100.00% |
2 | Fidelity | 64.43% |
3 | RTG | 56.00% |
4 | Medtech B | 38.89% |
5 | Econet | 31.12% |
6 | CFI | 29.78% |
7 | OK Zim | 18.90% |
8 | BAT | 18.56% |
9 | GBH | 16.19% |
10 | AFDIS | 13.64% |
On the flip side, there were major losses as many counters weighed down the exchange. Medtech A offset the gains in Medtech B to drop 40.68%. Getbucks troubles mounted as the deadline for bank capital thresholds loomed with the bank sliding 33.33%. Miekles dropped 20.96% to deepen the retreat after the unbundling of Tanganda which just awaits the settling of tax matters to be completed. Losses were also recorded in the Old Mutual Top 10 ETF as the exchange reeled. There were 2 non-movers and SeedCo International from the VFEX also did not move.
Counter | % change | |
1 | Medtech A | -40.68% |
2 | Getbucks | -33.33% |
3 | Dairibord | -27.08% |
4 | Turnall | -24.18% |
5 | NMBZ | -23.78% |
6 | Meikles | -20.96% |
7 | Mash | -20.83% |
8 | NTS | -19.23% |
9 | NatFoods | -19.08% |
10 | Edgars | -17.22% |
An interesting year…
The All Share Index gained 310.51% in 2021. That is nothing short of a remarkable performance especially when we factor in inflation in either Consumer Price Index or Purchasing Power Parity form. The Small-Cap index ended the year 3280.46% up as the domination of the small caps early in the year could not be reversed. The sector indices show consumer staples were far out ahead gaining 435.10%. Financials could not make it 2 great years in a row as the index was the poorest performer at 47.56% for the year.
Index | YTD 31/12/2021 |
All Share Index | 310.51% |
Top 10 | 307.51% |
Medium Cap | 271.64% |
Small-Cap | 3280.46% |
Con staples | 435.10% |
Con Discretionary | 255.80% |
Materials | 212.34% |
Property | 145.14% |
Mining | 89.05% |
Financial | 47.56% |
A quick look at the top ten gainers for 2021 shows some interesting trends. CFI returned from suspension to adjust the price and then some. Unifreight cemented its position as the biggest gainer very early in the year rewarding patient shareholders. Despite its troubles, Getbucks surge early in the year also counted big. The top 10 was dominated by small ticket counters which surged early in the year.
2021 | ||
1 | CFI | 10119.81% |
2 | Unifreight | 7223.24% |
3 | Getbucks | 2081.82% |
4 | Zeco | 990.91% |
5 | NTS | 943.22% |
6 | NatFoods | 939.62% |
7 | GBH | 421.59% |
8 | Willdale | 420.99% |
9 | Lafarge | 354.55% |
10 | Econet | 306.91% |
2021 was a great year to be invested and signs indicate that 2022 will be as good if not better. You can expect our continued coverage, discussions and education on the ZSE.
