The Zimbabwe Stock Exchange (ZSE) unveiled the Capital Markets Association this Monday. The event coincided with the inaugural Capital Markets Conference in Nyanga. According to ZSE chief executive, Justin Bgoni, this new body includes exchanges, depositories, stockbrokers, custodians, asset managers, and transfer secretaries. “We aim to create a united voice for the sector, similar to the Confederation of Zimbabwe Industries for manufacturing,” Bgoni stated.
The association will focus on research relevant to capital markets and lobbying for policies beneficial to its members. Additionally, it plans to enhance professional development within the sector. “Teaching members about best practices will be a significant aspect of our agenda,” Bgoni added.
Simultaneously, the Securities and Exchange Commission of Zimbabwe (SecZim) introduced the #MySchool Corporate Social Responsibility project. This initiative seeks to boost financial literacy and awareness of capital markets among Zimbabwe’s youth. Launched on April 1, the project is scheduled to continue through November.
SecZim has identified a critical gap, noting that only 2% of the population is aware of the capital markets, which significantly limits participation. “Our goal is to expand capital market awareness across all provinces through collaborative efforts,” a SecZim spokesperson explained. The project will utilize the “Capital Market Toolkit,” which contains approved educational materials and is endorsed by the curriculum development unit of the Ministry of Primary and Secondary Education.
The #MySchool initiative will involve individuals from various sectors, including both public and private, to participate in outreach programs targeting schools they attended. SecZim also encourages corporations, non-governmental organizations, and other entities to select schools for participation in the initiative.
The two-day conference attracted major players in the capital markets and was jointly organized by the Zimbabwe Independent, ZSE, and SecZim. The Zimbabwe Independent, part of Alpha Media Holdings, is a leading private media group that also includes NewsDay and The Standard, along with broadcaster HStv.
Source: Newsday
