ZSE to self-list today

SAMANTHA MADE

The Zimbabwe Stock Exchange (ZSE) will today take a historic step as it self-lists on its own platform through its newly formed holding company, Zimbabwe Stock Exchange Holdings Limited (ZSEHL).

The move, is expected to redefine the role of the exchange from being a market facilitator to also becoming a market participant.

The self-listing move, first announced last year, is part of a broader strategy to enhance access to risk-adjusted capital, boost brand visibility, and modernise the governance framework of the ZSE. The restructuring allows the exchange to operate under a consolidated corporate structure, providing greater transparency and paving the way for innovative capital market solutions.

ZSEHL will serve as the holding company for both the ZSE and the Victoria Falls Stock Exchange (VFEX), which operates in foreign currency. This structure is designed to improve operational efficiency and unify decision-making across the two trading platforms.

The development follows the gazetting of Statutory Instrument 49 of 2025 by the Ministry of Finance, creating the legal framework for local stock exchanges to list themselves. The regulatory change cleared the way for ZSE to transition into a publicly listed entity, aligning Zimbabwe with international markets where exchanges such as the London Stock Exchange and Johannesburg Stock Exchange are also publicly traded companies.

Last month, the Securities and Exchange Commission of Zimbabwe (SECZim) approved the listing application, subject to specific conditions, including the Zimbabwe Revenue Authority’s endorsement of a reconstruction scheme and the achievement of a minimum threshold of 300 public shareholders.

The self-listing is expected to bring a number of benefits to Zimbabwe’s capital markets. It will enable ZSE to raise capital more efficiently, support long-term infrastructure development, and create a platform for broader public participation. Investors will, for the first time, be able to buy equity in the entity that runs the national stock exchange—potentially improving confidence and deepening capital markets.

ZSE officials indicated that the primary goal of the listing is to consolidate the fragmented governance system under one structure that is more agile and accountable. This reorganisation will simplify ownership, enhance regulatory compliance, and position the exchange for future regional and global partnerships.

Established in 1896, the ZSE is Zimbabwe’s oldest and most significant capital market institution, with over 40 listed equities across various sectors. It has served as a key platform for companies seeking long-term capital and for investors looking for exposure to Zimbabwean businesses.

Its sister exchange, VFEX, was launched in 2020 to attract foreign investment through US dollar-based listings and has since grown steadily, with several top-tier companies listing to diversify their capital-raising strategies.

The self-listing of ZSEHL marks a critical juncture in the evolution of Zimbabwe’s financial markets. It represents a shift towards greater transparency, investor inclusion, and institutional self-reliance at a time when robust capital markets are vital for economic recovery and sustainable growth.

Today’s ceremony will not only celebrate the beginning of a new chapter for ZSE but also signal Zimbabwe’s growing commitment to aligning its financial infrastructure with global capital market standards.