Cash Shortage Leaves Zimbabwean Bourse Without Technical Support
Cash Shortage Leaves Zimbabwean Bourse Without Technical Support
(Bloomberg) -- Zimbabwe’s stock exchange said it’s unable to fix a problem with its trading system after a technical-support company withdrew its services for non-payment.
The Zimbabwe Stock Exchange has been unable to access reports from its Automated Port Trade Reporting System, the bourse said in a notice to stockbrokers seen by Bloomberg and verified by the exchange. The ZSE requires support from a company it identified as Infotech to rectify the matter, according to the notice.
“The ZSE is obliged to pay maintenance fees for support to Infotech on an annual basis,” it said. “ZSE has not been allocated the foreign currency required for payment to be made in respect of 2018 maintenance and support fees. Infotech has withdrawn support until payment has been made.”
Singapore-based Infotech didn’t immediately respond to an emailed request for comment.
To contact the reporter on this story: Godfrey Marawanyika in Harare at gmarawanyika@bloomberg.net
To contact the editors responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net, Paul Richardson, Hilton Shone
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