ZSE Cleared to Self-List

Zim Now Writer

Zimbabwe’s capital markets are set for a major transformation following government approval for the Zimbabwe Stock Exchange to list itself on its own trading platform.

Through Statutory Instrument 49 of 2025, gazetted this week, the Ministry of Finance, Economic Development and Investment Promotion has amended key regulatory provisions to allow self-listing by local bourses. The move is expected to boost transparency, investor confidence, and innovation in the capital markets.

The changes empower the Securities and Exchange Commission of Zimbabwe to supervise the listing process, ensuring compliance with robust regulatory safeguards. This brings Zimbabwe in line with international practices, where exchanges such as those in Johannesburg, London, and New York operate under listed company structures.

The ZSE’s self-listing plan follows a shareholder-approved corporate restructuring held on October 9, 2024. Under the new arrangement, a holding company—Zimbabwe Stock Exchange Holdings Limited—has been formed to take over ZSE Limited’s shares on a 1:1 basis. Shareholders will receive one ZSE Holdings share for each ZSE Limited share they currently hold.

ZSE Holdings will serve as the new listed parent company, overseeing both the ZSE and the Victoria Falls Stock Exchange, while both exchanges retain their operational autonomy and regulatory licenses.

“The primary purpose of incorporating ZSE Holdings is to consolidate governance and create a listable entity,” the exchange noted. “This reorganisation opens up opportunities for capital-raising, new financial products, and strategic innovation.”

While SECZim has granted conditional approval for the restructuring, the self-listing process is still subject to further clearances, including tax approvals from the Zimbabwe Revenue Authority. A comprehensive pre-listing statement will be issued once all regulatory requirements have been met.

Analysts believe the listing could mark a turning point for Zimbabwe’s financial sector. As the exchange shifts toward a market-oriented model, it will be better positioned to diversify its offerings, attract foreign listings, and align with regional initiatives such as the African Continental Free Trade Area.

Beyond administrative change, the self-listing initiative reflects a broader commitment to economic reform and private-sector-led growth. It also signals the government’s willingness to embrace international best practices in capital market development.