ZSE, Getbucks sign deal

17 Jan, 2020 - 00:01 0 Views
ZSE, Getbucks sign deal

The Chronicle

THE Zimbabwe Stock Exchange (ZSE) is collaborating with GetBucks Microfinance Bank Limited (Getbucks) to operationalise the Zimbabwe Emerging Enterprise Market (ZEEM).

According to ZBC News, a memorandum of understanding for the implementation of the project which should see emerging small to medium enterprises (SMEs) access the stock market, has already been signed. This forms part of initiatives to expand the capital markets with more products and services as well as attract more investors to the local bourse. 

ZSE chief executive officer Mr Justin Bgoni indicated that ZEEM products will be offered through an over-the-counter platform targeted at initially offering working capital solutions for formalised businesses, including Small to Medium Enterprises (SMEs).

“Over time, the ZSE will facilitate and assist small to medium size enterprises to list on the secondary bourse through training, workshops and other initiatives to educate SMEs on benefits of listing and meeting the requirements,” he was quoted as saying in a statement. 

Mr Bgoni said the local bourse and GetBucks microfinance bank were also working towards establishing a receivables exchange, a precursor to the ZEEM project.

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

The local bourse has of late been working on various projects to broaden and demystify capital markets, which for long have been regarded elitist with small retail investors shying away.

Meanwhile, the ZSE has introduced sectoral indices designed to represent the trading performance of different companies listed on the local bourse. — ZBC News/Business Chronicle. 

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