Harare, (New Ziana) – The Government has reaffirmed its commitment to building a stronger, technology-driven capital market, saying deepening Zimbabwe’s financial markets is critical to mobilizing long-term investment needed to drive economic transformation, infrastructure development and industrial growth.
Speaking on behalf of the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, at the Securities and Exchange Commission of Zimbabwe (SECZ) 8th Annual General Meeting in Harare on Wednesday, the Ministry’s Director of Finance and Administration, Kudakwashe Zata, said Government remains committed to creating a modern and resilient capital market capable of supporting the country’s development aspirations.
He said despite operating in a challenging economic environment, the Commission had demonstrated resilience through sound financial management.
“I am pleased to note that the Commission’s 2025 financial performance reflects both resilience and pressures of the operating environment. Notwithstanding these pressures, the Commission maintains financial stability through prudent financial management and disciplined expenditure control,” he said.
Prof Ncube commended the SECZ board, management and staff for their efforts, saying the Commission should now focus on revenue diversification, operational efficiency and long-term financial sustainability.
He noted that global capital markets are being reshaped by digitalization, artificial intelligence, blockchain technology and decentralized finance, adding that Zimbabwe should position itself to benefit from these emerging trends.
“This is a vision that should guide every reform, every investment and every decision that the Securities and Exchange Commission will make in the years ahead,” he said.
Prof Ncube stressed that capital market development remains a priority under the National Development Strategy 2, as conventional bank financing alone cannot meet the country’s long-term funding requirements.
“A vibrant debt market, dynamic equity markets, innovative investment vehicles, strong institutional investors and genuine participation by ordinary citizens, emerging enterprises and the diaspora will therefore be key enablers,” he said.
He also applauded the Commission for signing a Memorandum of Agreement with the National University of Science and Technology (NUST) to establish a Capital Markets Institute, describing it as a strategic investment in developing skilled regulators, market professionals, analysts and informed investors.
The Ministry also hailed amendments made through the Finance Act No. 7 of 2025, which expanded the SECZ’s mandate to include the licensing and regulation of virtual asset service providers.
Prof Ncube described the legislative changes as a landmark development that aligns Zimbabwe with international anti-money laundering standards while preparing the country to regulate emerging digital financial products.
SECZ board chairman, Dakshesh Patel said although global markets continue to face uncertainty driven by geopolitical tensions, digital finance and shifting investment trends, Zimbabwe’s capital markets have an increasingly important role in financing national development.
“Zimbabwe cannot finance its own development through bank lending alone. Our capital markets must become a stronger engine for infrastructure, industry, agriculture, housing, energy, innovation and technology-driven growth,” he said.
Patel said his vision is to transform the Commission into “a modern, decisive, technology-enabled, financially sustainable and internationally respected regulator.”
He said the Commission continued to supervise market institutions, protect investors and promote transparent and orderly markets throughout 2025 despite difficult operating conditions.
While the Commission remained financially solvent, he acknowledged that revenues were still vulnerable to fluctuations in trading activity and market listings.
“The board will therefore prioritize a sustainable funding model that gives SECZ the resources required to discharge its expanding mandate. Financial sustainability is not simply an internal issue; it is a precondition for credible regulation,” he said.
Patel also expressed appreciation for Government support, revealing that Treasury provided a US$1 million grant for the acquisition of the Commission’s new offices at No. 2 Hendrik Potgieter Road, Borrowdale, together with an additional ZiG2.67 million to support relocation costs.
“This investment gives SECZ a stronger institutional base and demonstrates the strategic importance Government attaches to an effective capital market regulator,” he said.
He added that the Commission is pursuing legislative reforms aimed at strengthening its supervisory, investigative and enforcement powers while enhancing investor protection and oversight of emerging financial products.
Patel said the proposed reforms, developed with technical support from the United Kingdom’s Financial Conduct Authority and the International Organization of Securities Commissions (IOSCO), would help modernize Zimbabwe’s regulatory framework and improve investor confidence.
Established under the Securities and Exchange Act, the Securities and Exchange Commission of Zimbabwe is the country’s principal capital markets regulator.
It oversees securities exchanges, licensed intermediaries, collective investment schemes and other capital market participants to ensure fair, transparent and efficient markets while protecting investors and promoting confidence in Zimbabwe’s financial system.
Through its regulatory and developmental mandate, the Commission plays a central role in mobilizing investment capital, supporting economic growth and aligning Zimbabwe’s financial markets with international best practices.
