The Zimbabwe Stock Exchange Limited (ZSE) is a securities exchange regulated in terms of the Securities and Exchange Act (24:25) to provide for the listing and trading of securities. Securities are defined in the Securities and Exchange Act (24:25) to include shares, debt securities, depository receipts, futures and contracts for differences.
The origins of the Zimbabwe Stock Exchange date back to the arrival of the Pioneer Column in 1896. The true forerunner to the ZSE of today was founded in Bulawayo in January 1946, shortly after the end of the Second World War. In December 1951, a second floor opened in Harare (then known as Salisbury), and trading between the two cities was conducted via telephone.
Several years later, stakeholders agreed that legislation was required in order to protect the rights and obligations of all concerned, and in January 1974, the Zimbabwe Stock Exchange Act (then called the Rhodesia Stock Exchange Act) was passed into law, consolidating the 2 exchanges. In order to meet legal requirements, a new exchange came into being, although trading continued uninterrupted.
21st Century Developments
In order to keep abreast with the moving times, the Zimbabwe Stock Exchange adopted an electronic system in December 2009. The bourse launched an electronic trading board in December 2009 becoming the third African country to move from a manual system and paving the way for investors' to have access to real time data. In March 2013, the ZSE also managed to launch a website. The website launch was part of the company's revitalisation program after marginal decline of business during the period of the economic meltdown between 2007 and 2008.
On 6 July 2015, the ZSE migrated to an online trading platform through its launch of the Automated Trading System (ATS) which replaced the traditional open-outcry manual based trading.
Instruments traded on the ZSE
The ZSE facilitates trading of securities such as ordinary shares, debentures, bonds and other fixed income instruments.
Roles of the Zimbabwe Stock Exchange
- Facilitating raising of long term capital for companies, government and semi government institutions;
- Providing a regulated platform for buying and selling of securities;
- Provision of information such as historical financial data, securities prices, market reports and market statistics of listed firms among others; and
- Regulating stockbrokers and security issuers (listed entities).
A board of directors oversees the affairs of the ZSE. The board consists of five independent, non-executive directors, the CEO of the ZSE and a representative of the stock brokers.
BOARD OF DIRECTORS
- Caroline Sandura Chairman, Non-Executive Director
- Bartholomew Mswaka Deputy Chairman, Non-Executive Director
- Benson Gasura Non-Executive Director
- Markus de Klerk Non-Executive Director
- Kholisani Moyo Non-Executive Director
- Maureen Rudo Svova Non-Executive Director
- Daniel Muchemwa Non-Executive Director
- Justin Bgoni Chief Executive Officer
- Obert Ngwenya Finance Director
- Website: www.zse.co.zw
- Telephone: +263-24 2886830 – 8
- Email: firstname.lastname@example.org
- Facebook: Zimbabwe Stock Exchange
- Twitter: @ZSE_ZW
- LinkedIn: Zimbabwe Stock Exchange
44 Ridgeway North, Highlands, Harare, Zimbabwe
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- , Chirume is new ZSE boss, "The Herald", published:30 May 2013, retrieved:16 Jul 2014"