Zimbabwe Stock Exchange Self-Lists to Strengthen Capital Markets

The Zimbabwe Stock Exchange Logo

Reporter

In a major milestone for Zimbabwe’s financial sector, the Zimbabwe Stock Exchange (ZSE) has made history by self-listing on its own platform through a newly created holding company, ZSE Holdings Limited. Trading in ZSE Holdings shares officially commenced on July 11, 2025, placing Zimbabwe among a select group of African countries whose exchanges have taken such a transformative step. The self-listing was made possible by a corporate restructuring approved by shareholders in October 2024. This included the formation of ZSE Holdings Limited, which now serves as the parent company of both the Zimbabwe Stock Exchange Limited (ZSE Limited) and its subsidiary, the Victoria Falls Stock Exchange (VFEX). Both exchanges will continue to operate under their respective securities exchange licenses, overseen by the new holding structure.

This development follows the enactment of the Securities and Exchange (Self-Listings Rules for Exchanges) (Amendment) Rules, 2025, a regulatory framework that allows exchanges to restructure and list themselves while remaining compliant with governance standards. The ZSE’s objective with this move is to enhance transparency, improve operational efficiency, and unlock new growth opportunities. Through self-listing, the exchange is now subject to the same regulatory and disclosure obligations as other listed entities — a move that is expected to boost investor confidence and attract more domestic and international capital. According to Arnold Chibvongodze, Secretary General of the Stockbrokers Association of Zimbabwe, “Self-listing promotes visibility of our exchange and puts Zimbabwe on the map to attract foreign investors and boost investor confidence.”

Similarly, Honourable Professor Mthuli Ncube, the Minister of Finance and Economic Development, noted through his spokesperson, Mrs. Judith Rusike, that, “The self-listing is a powerful demonstration of how companies, and even the Exchange itself, can mobilise domestic savings to support long-term, productive investment. This is precisely the kind of transformation required to deepen the capital markets and achieve broader economic goals.”

ZSE Holdings now trades as a publicly listed entity, allowing Zimbabwean and foreign investors to share in the growth and development of the country’s key stock exchange. With this change, analysts anticipate increased market liquidity, better corporate governance practices, and the introduction of modern financial instruments, such as derivatives, ETFs, and green bonds. The move also positions Zimbabwe’s stock market as a competitive regional player, furthering its potential to attract new listings, diversify products, and modernize trading systems for long-term growth.