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Saturday, May 25, 2024

Zim making strides in broadening capital markets

Story by Stanley James, Business Editor

ZIMBABWE is making strides in expanding capital markets to mobilise more financial resources for long-term projects.

The local capital markets regulator, the Securities and Exchange Commission of Zimbabwe (SECZIM), states in a report that the enactment of legislation to allow for more capital trading platforms has resulted in local and external investors ploughing more funds into markets for long-term projects.

The regulators’ Chief Executive Officer, Mr Anymore Taruvinga is confident, Zimbabwe now has the potential of attracting more money on different trading platforms.

“There is now the Victoria Falls Stock Exchange, Exchange Traded Fund and Real Estate Investment Trust in the basket of capital markets, this all reflects the commitment by Zimbabwe to widen resource mobilisation and enabling different units of the society to partake in those portfolios that suit the ability to invest or capital levels,” he said.

Lithium Association of Zimbabwe President, Mr Hillary Vela says the broadening of the capital markets presents an opportunity for new mining projects mainly in the lithium industry to trade and raise capital for growth.

“As you can see the VFEX is already attracting more interest from the mining industry so basically it means even green field projects in the lithium value chains can also list on such a market to attract more capital,” he said.

The Securities and Exchange Commission of Zimbabwe states that it will continue to identify new trading platforms to cater for low-income segments of the economy in light of the National Financial Inclusion Strategy.

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