The Securities and Exchange Commission of Zimbabwe (SecZim) issued 27 licenses to various entities in 2022 despite the capital markets experiencing mixed fortunes. SecZim’s mandate is to promote, develop and regulate capital markets through the formulation and implementation of appropriate rules and regulations to guide capital market operations. Chief executive Anymore Taruvinga said the first four months of the year saw record index and turnover levels on the Zimbabwe Stock Exchange (ZSE), but this gave way to largely bearish sentiment from May 2022. He said the Victoria Falls Stock Exchange (VFEX) saw a number of new listings, albeit this was at the expense of the ZSE, as issuers flocked to the hard currency platform. “The listing of Nedbank Group Limited Zimbabwe Depository Receipts and the Karo Mining Holdings bond on the VFEX provided diversity to the offerings available on local exchanges,” he said while commenting in the Commission’s 2022 annual report. By the end of 2022, the market architecture was composed of six capital market infrastructures (CMIs) and 191 securities market intermediaries (SMIs) representing a 13% growth from prior year – Herald, Thursday June 15, Pg F1
