Unifreight leads ZSE gains in 2021

04 Jan, 2022 - 00:01 0 Views
Unifreight leads ZSE gains in 2021 Unifreight’s share price rose significantly on the ZSE in 2021

The Herald

Tapiwanashe Mangwiro
Senior Business Reporter
Unifreight led the 2021 performance table, helping the Zimbabwe Stock Exchange (ZSE) to 314 market capitalisation gain, outperforming inflation and achieving double the returns for investors in US dollar terms.

Unifreight, which started the year with a measly market cap of $19 million, is now a better capitalised stock at $3,2 billion.

The stock rose 16 011 percent, without accompanying fundamentals, and  appears  over valued  at current  prices.

Unifreight is currently on a 52-week low of 22,30c. The stock gained 3,33 percent to $2 996,67c in the year closing year session.

CFI Holdings, which was suspended from trading on ZSE in 2018 and resumed in 2021, was one of the major year risers last year after gaining 13 125 percent to $93,57.

Small cap GetBucks was among the top five risers of the year, as it saw its share price rise by 4 700 percent.

The microfinance bank saw its share price close at the value of 600. Pushed by retail investors in the year, another struggling small cap stock, Zeco saw its value increase to 0,48c as it gained 2 300 percent to close with a market cap of $2,22 million.

ZSE yearly gains were reversed by a loss in banking institution CBZ Holdings, which saw its share price reduce to $75 16,81c after it lost 12,04 percent in the year.

This left the 2020 top riser as the lone loser of the year in 2021.

In terms of sub-indices, the Top 10 Index saw gains of 311,37 percent, driven by a 2 187 percent advance in diversified miller National Foods’ share.

The company, which closed the year with a market cap of $94 billion, saw its share price rise to $1 374,58 in 2021.

The Medium Cap Index rallied to a 266,75 percent gain, the least of all the indices but way above annual inflation of 60 percent.

All the indices were bettered by the Small Cap Index for the second year running as it ended the year at 20 407,26 points, after gaining a mammoth 3 254,62 percent.

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