ZSE hunts for risk advisor

April 29, 2021

BUSINESS REPORTER

The Zimbabwe Stock Exchange (ZSE) is in the hunt for a risk advisory consultant as it seeks to manage the bourse’s risk profile amid growing products and services offering.

In a request for proposal for the appointment of the risk management advisor, the bourse said it was running another exchange, the Victoria Falls Stock Exchange (VFEX) which has its own depository, had a retail application, ZSE Direct, new products such as Exchange Traded Funds (ETFs) and Real Estate Investment Trust, a training academy and a receivables exchange.

“This has changed the risk profile of the organisation. ZSE is looking for a consultant to help manage this risk profile,” the bourse said.

The consultant’s focus areas are to recommend a risk management framework for the group, risk assessments and development of a risk register template, scenario analysis template, reporting template and dashboards, development of training materials on the risk assessment process and procedures, development of a consolidated risk register and development of Standard Operating Procedures and manuals to mitigate risks identified.

“In addition to scope of work of Advisor indicated above, ZSE may assign such other work related to Risk Management Advisor as considered necessary from time to time,” ZSE said.

VFEX debuted in October as the foreign currency only bourse, established to kick start the Offshore Financial Services Centre earmarked for the special economic zone in Victoria Falls.

It has one counter, Seed Co International and PPC and Old Mutual Zimbabwe will join the bourse.

The trio was told to exit the Zimbabwean dollar board when ZSE resumed trading in August after a month closure to pave way for investigations into alleged illicit deals blamed for the routing of the local unit against major currencies. Authorities blamed fungible securities for fuelling the routing of the local currency.

ZSE Direct was launched in September and targets individual investors amid lack of appreciation of investment processes on the bourse.

ZSE and Harare Receivable Exchange are running the Zimbabwe Receivables Market Place (Private) Limited, incorporated last to offer working capital solutions through receivables discounting and trading.

In January, ZSE became the fifth bourse on the continent to list an ETF when the Old Mutual Zimbabwe’s Top 10 Exchange Traded Fund began trading.

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