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ZSE granted self-listing approval
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The Zimbabwe Stock Exchange (ZSE) is set to list itself on its own bourse following the gazetting of Statutory Instrument 49 of 2025 by the Minister of Finance, Economic Development and Investment Promotion, paving the way for one of the most significant structural changes in the history of Zimbabwe's capital markets.
The Statutory Instrument, cited as the Securities and Exchange (Self-Listings Rules for Exchanges) (Amendment) Rules, 2025 (No. 1), provides the regulatory framework for securities exchanges to self-list, with the Securities and Exchange Commission of Zimbabwe (SECZim) assuming oversight for such listings.
In line with Section 63 (2a) of the Securities and Exchange Act, the SECZim is now empowered to "adopt the rules and exercise the functions of the Exchange on which the listing is sought," ensuring proper governance and market integrity during the self-listing process.
This regulatory milestone follows a unanimous resolution by shareholders at an extraordinary general meeting held on October 9, 2024, to approve a restructuring transaction whereby Zimbabwe Stock Exchange Holdings Limited (ZSE Holdings) — a newly formed entity — will acquire all shares in ZSE Limited.
Under the scheme, shareholders of ZSE Limited will receive shares in ZSE Holdings on a 1:1 exchange ratio, effectively transferring their ownership to the new holding company. Once complete, ZSE Holdings will become the listed entity on the ZSE, replacing the operational exchange.
"The purpose of incorporating ZSE Holdings Limited was to create a listable holding company that would control a collapsed existing structure of ZSE Limited," the ZSE said in an earlier circular to shareholders. The reorganisation aims to streamline operations, improve liquidity, and unlock shareholder value.
Following the transaction, both ZSE and the Victoria Falls Stock Exchange (VFEX) — which currently operate under separate licences — will remain operationally independent but under the unified ownership of ZSE Holdings. This corporate consolidation is expected to enhance innovation and introduce a wider range of capital market products.
The ZSE also confirmed that it is finalising a pre-listing statement, which will be published upon full regulatory clearance. While SECZim has already approved the self-listing, approval from the Zimbabwe Revenue Authority (ZIMRA) for the Scheme of Reconstruction is still pending.
Once all approvals are secured, ZSE Holdings is expected to make its market debut, marking a historic moment in Zimbabwe's capital market development and aligning with broader government efforts to modernise financial infrastructure and attract investment.
The Statutory Instrument, cited as the Securities and Exchange (Self-Listings Rules for Exchanges) (Amendment) Rules, 2025 (No. 1), provides the regulatory framework for securities exchanges to self-list, with the Securities and Exchange Commission of Zimbabwe (SECZim) assuming oversight for such listings.
In line with Section 63 (2a) of the Securities and Exchange Act, the SECZim is now empowered to "adopt the rules and exercise the functions of the Exchange on which the listing is sought," ensuring proper governance and market integrity during the self-listing process.
This regulatory milestone follows a unanimous resolution by shareholders at an extraordinary general meeting held on October 9, 2024, to approve a restructuring transaction whereby Zimbabwe Stock Exchange Holdings Limited (ZSE Holdings) — a newly formed entity — will acquire all shares in ZSE Limited.
"The purpose of incorporating ZSE Holdings Limited was to create a listable holding company that would control a collapsed existing structure of ZSE Limited," the ZSE said in an earlier circular to shareholders. The reorganisation aims to streamline operations, improve liquidity, and unlock shareholder value.
Following the transaction, both ZSE and the Victoria Falls Stock Exchange (VFEX) — which currently operate under separate licences — will remain operationally independent but under the unified ownership of ZSE Holdings. This corporate consolidation is expected to enhance innovation and introduce a wider range of capital market products.
The ZSE also confirmed that it is finalising a pre-listing statement, which will be published upon full regulatory clearance. While SECZim has already approved the self-listing, approval from the Zimbabwe Revenue Authority (ZIMRA) for the Scheme of Reconstruction is still pending.
Once all approvals are secured, ZSE Holdings is expected to make its market debut, marking a historic moment in Zimbabwe's capital market development and aligning with broader government efforts to modernise financial infrastructure and attract investment.
Source - herald
