ZSE, GetBucks sign bourse MoU

ZSE, GetBucks sign bourse MoU

Harare, (New Ziana) – The Zimbabwe Stock Exchange and local financial institution, GetBucks Microfinance Limited have entered into a partnership for the establishment of an alternative bourse for formalised emerging businesses to raise capital.

Known as the Zimbabwe Emerging Enterprise Market (ZEEM), the platform
will also be open to small to medium enterprises.

“The ZEEM product will be offered through an over the counter platform
targeted at initially offering working capital solutions for
formalised businesses, including small to medium enterprises,” the
parties said.

A memorandum of understanding committing to the establishment of the
bourse has since been signed.

As part of the partnership, the ZSE said it will facilitate and assist
SMEs to list on the secondary bourse through training that will
emphasise the benefits of listing.

“This collaboration reinforces ZSE’s drive to foster the growth of the
capital markets in Zimbabwe and resonates with our vision of
facilitating economic development in Zimbabwe and Africa,” the parties
said.

“The ZSE is looking forward to a fruitful partnership with GetBucks in
ensuring the growth of SMEs under ZEEM.”

With high interest rates in the market, companies are struggling to
mobilise funding for working capital, and ZEEM could provide access
to cheap long term capital.

In terms of rules that will govern ZEEM, a company intending to list
on the exchange is expected to have been incorporated and registered
in terms of the Companies Act (Cap 24.03) or under any other law of
the country of incorporation.

It should have a minimum share capital of $250 000 at the time of listing.
The public is expected to hold a minimum of 26 percent of each class
of equity securities listed and the number of public shareholders
shall be at least 50.
New Ziana

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New Ziana

One thought on “ZSE, GetBucks sign bourse MoU

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