The Zimbabwe Stock Exchange (ZSE) has received the green light to list its own shares on its bourse following the gazetting of Statutory Instrument 49 of 2025 by the Minister of Finance, Economic Development and Investment Promotion.
The new regulations, titled the Securities and Exchange (Self-Listings Rules for Exchanges) (Amendment) Rules, 2025 (No. 1), empower the Securities and Exchange Commission of Zimbabwe (SECZim) to adopt exchange rules and functions for this self-listing, in accordance with section 63 (2a) of the Act.
This development follows a unanimous agreement by ZSE shareholders on October 9, 2024, for a transaction where the newly formed Zimbabwe Stock Exchange Holdings Limited (ZSE Holdings) will acquire all outstanding shares of the ZSE on a one-for-one basis.
The ZSE stated that this restructuring aims to simplify operations, enhance liquidity, and increase shareholder value by establishing a stronger corporate structure. Post-transaction, ZSE Limited shareholders will become the sole shareholders of ZSE Holdings.
According to the ZSE, ZSE Holdings was created to serve as a listable holding company overseeing the existing ZSE Limited and the Victoria Falls Stock Exchange (VFEX). Both exchanges will continue to operate independently under separate licenses within the ZSE Holdings framework, allowing for the introduction of new offerings while adhering to regulations.
Justin Bgoni CEO at Zimbabwe Stock Exchange (Image credit: ZSE)
The ZSE is currently preparing its pre-listing statement, which will be released upon final regulatory approval from SECZim (now granted) and the Zimbabwe Revenue Authority (ZIMRA) regarding the Scheme of Reconstruction.
The Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. Its history dates back to 1896 but has only been open to foreign investment since 1993. It recently unveiled Data Direct, a new artificial intelligence (AI)-enabled platform designed to improve access to comprehensive market data as part of its digital transformation strategy.
The Victoria Falls Stock Exchange (VFEX) is a small stock exchange headquartered in Victoria Falls, Zimbabwe. It was established in 2020, as a subsidiary of the Zimbabwe Stock Exchange (ZSE) to operate in the Victoria Falls special economic zone.