What Investors Really Think About ZiG

[00:00:00]So the RBZ offered Zimbabwean investors three choices. Lock away your zig for 30 days for 60 days or lock it away for 90 days. And Zimbabweans looked at that 60-day option and said no thanks. Not a single bid came for it. And to understand why that's interesting, we need to go back to the first auction to the first offer. When the RBZ launched this new uh Zigg investment thing, investors submitted bids worth about 392 million ZIG and the RBZ accepted about 332 million of those bids. And more importantly, the average accepted interest rate came in at just under 11%.

[00:00:46]And that gave the RBZ a pretty good idea of what investors wanted. And so for the second offer, they switched it up a little bit. Instead of just offering a 90-day option, they introduced three options now. So you can do 30 days and get interest of 8%. Uh 60 days and get 9% interest or 90 days for 11% interest.

[00:01:10]And they also lowered the minimum investment required which know for individuals it comes down from about $19,000 equivalent to around3 $4,000. So still a bit high but not as bad as it was then.

[00:01:24]So in other words looking at all this the visit wasn't just testing if investors would hold zinc. They also testing for how long they would hold the zinc. And that's where the results got a little interesting. You see, the 30-day option attracted about 110 million zig, and the 90-day option attracted about 26, but the 60-day option had no takers.

[00:01:47]Now, we shouldn't read too much into a single set of results, but investors do seem to be sending a message. They are willing to hold zinc. Both the first auction and the second auction proved that what they are less willing to do is to commit to holding it for longer periods of time. So how much confidence do investors have in the zinc? Now the second auction which had options you know for 30 60 and 90 days tells us they have enough confidence for a month after that they would rather keep their options open.

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