Online Reporter
Business Writer
ZIMBABWE’S capital markets posted significant gains in the first quarter of 2026, with combined market capitalisation across the country’s three exchanges rising 51,1 percent to US$8,58 billion, driven by improved macroeconomic fundamentals and growing investor confidence.
The performance comes as Zimbabwe continues to experience greater economic stability, underpinned by strong gross domestic product (GDP) growth, record export earnings and improved food security.
In addition, inflationary pressures, exchange rate volatility and price instability have eased significantly, while Government efforts to restructure external debt and re-engage with the international community continue to gather momentum.
The strong market performance was recorded despite the high-profile delisting of Econet Wireless Zimbabwe from the Zimbabwe Stock Exchange (ZSE), highlighting the resilience of the broader investment market.
According to Securities and Exchange Commission of Zimbabwe (SECZim) Acting chief executive officer Mr
Tichaona Mushambadope, the first quarter represented a significant milestone for the country’s capital markets, reflecting increased investor participation and stronger market fundamentals.
He said combined market capitalisation across the Zimbabwe Stock Exchange, Victoria Falls Stock Exchange (VFEX) and Financial Securities Exchange (FINSEC) increased to US$8,58 billion during the period.
The VFEX All Share Index gained 41,07 percent, while the ZSE All Share Index advanced 29,04 percent, underlining strong performances across the country’s main trading platforms.
“The first quarter of 2026 marked an important milestone for Zimbabwe’s capital market, demonstrating growing momentum across the investment ecosystem on the back of improved macroeconomic fundamentals,” Mr
Mushambadope said in the regulator’s quarterly report.
SECZim is also moving to accelerate the adoption of advanced technologies to modernise market regulation and supervision as global capital markets increasingly embrace artificial intelligence, digital assets, tokenisation and financial technology innovations.
He said the commission was implementing Regulatory Technology (RegTech) and Supervisory Technology (SupTech) systems to automate regulatory reporting, strengthen market surveillance, enhance risk-based supervision and leverage artificial intelligence to improve regulatory effectiveness.
The regulator is also seeking to broaden the range of investment products available to issuers and investors as part of efforts to deepen Zimbabwe’s capital markets.
Mr Mushambadope said SECZim was supporting the development of sustainable finance instruments, climate finance products, exchange-traded funds (ETFs), real estate investment trusts (REITs), venture capital, tokenised securities and appropriately regulated virtual asset markets.
He said these instruments would play a critical role in mobilising long-term capital for infrastructure, agriculture, mining, manufacturing, housing, renewable energy and other productive sectors of the economy.
Beyond product innovation, the commission is prioritising investor education through the establishment of the Capital Markets Institute, which is aimed at strengthening financial literacy, building professional capacity and promoting responsible investment practices.
Mr Mushambadope said informed investors were essential to developing resilient, transparent and efficient capital markets.
He added that SECZim would continue prioritising digital transformation, sustainable finance and deeper integration into African capital markets while working closely with Government, industry stakeholders, investors, academic institutions and development partners to build globally competitive capital markets capable of mobilising long-term investment, supporting Vision 2030 and driving inclusive economic growth.
