Parly pushes for a vibrant capital market
PHILLIMON MHLANGA
Zimbabwe’s capital market should be vibrant to support economic recovery and ensure that companies have access to funding sources, Clemence Chiduwa, the chairman of the Parliament Portfolio Committee on Budget, Finance, and Investment Portfolio has said.
Vibrant capital markets, according to Chiduwa, will also aid in the digital transformation of Zimbabwe and build a stronger, more resilient economy.
Players in the Zimbabwe capital markets include the Zimbabwe Stock Exchange (ZSE), the Victoria Falls Stock Exchange (VEFX) and FINSEC.
There are also stockbrokers, who are agents who buy and or sell securities on behalf of the investors as well as central securities depository firms such as the Chengetedzai Depository Company and the Zimbabwe Stock Exchange central securities depository, and these holds securities on behalf of investors.
The Securities and Exchange Commission of Zimbabwe (SecZim) regulates the stock market players.
“We want a vibrant capital market. The ZSE and the VFEX, we need them to be vibrant. We want a capital market that is going to aid the development agenda of Zimbabwe,” Chiduwa said.
SecZim CEO, Anymore Taruvinga said: “Our plea Honourable Minister (Mthuli Ncube) is for your support in removing the impediments currently limiting the market from fulfilling its role of intermediation, risk transfer and price determination,” Taruvinga said.
The capital market is expected to contribute towards sustainable and inclusive economic growth, ease of doing business and financial inclusion.
Meanwhile, the SecZim, has developed the investor education toolkit which will be distributed in schools to ensure that there is ongoing financial literacy at that level.
The Commission has also developed a Capital Market Awareness Index to assess the level of knowledge and participation by our citizenry in the capital market.
