derick.khumalo
Nqobile Bhebhe
[email protected]
BULAWAYO today reinforces its historic position as the cradle of Zimbabwe’s capital markets with the launch of the Zimbabwe Entrepreneurship Exchange (ZEEX), a specialised bourse expected to broaden investment opportunities for small and medium enterprises (SMEs) while deepening the country’s financial markets.
The exchange is the latest addition to Zimbabwe’s growing capital markets ecosystem, joining the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX).
Its establishment comes as Government continues pursuing initiatives to widen access to capital for businesses, particularly SMEs, which are widely recognised as key drivers of employment, innovation and economic growth.
The launch also marks a symbolic homecoming for organised securities trading, whose roots in Zimbabwe can be traced to Bulawayo more than 130 years ago.
According to ZSE, the country’s first stock exchange opened in Bulawayo in 1896, shortly after the arrival of the Pioneer Column.
Although it operated for only about six years, it laid the foundation for the development of organised capital markets.
Subsequent exchanges were established in Gwelo (now Gweru) and Umtali (now Mutare).
Information from ZSE indicates that The Mutare Exchange, also established in 1896, initially flourished on the back of mining activity before declining as mineral deposits proved less extensive than anticipated. It eventually closed in 1924.
Following the Second World War, organised securities trading returned to Bulawayo when Alfred Mulock Bentley established a new exchange, with trading commencing in January 1946.
A second trading floor was opened in Salisbury (now Harare) in December 1951, with dealers in the two cities conducting transactions by telephone.
According to the ZSE, telephone trading continued until legislation was introduced to regulate the rights and obligations of exchange members and investors.
The Rhodesia Stock Exchange Act came into effect in January 1974, leading to the establishment of a new exchange operating under a formal legal framework.
Following the country’s independence in 1980, the Rhodesia Stock Exchange was renamed the Zimbabwe Stock Exchange.
In 2020, the capital markets landscape expanded further with the establishment of the Victoria Falls Stock Exchange, a subsidiary of the ZSE operating within the Victoria Falls Special Economic Zone.
The launch of ZEEX represents another milestone in that evolution, positioning Bulawayo once again at the centre of capital market innovation while creating a dedicated platform to connect emerging enterprises with long-term investment capital.
