Online Reporter
Nelson Gahadza, [email protected]
Zimbabwe’s collective investment schemes (CIS) are increasingly shifting towards United States dollar-denominated funds, with assets under management in the foreign currency rising by more than 73 percent during the first quarter of 2026.
According to the Securities and Exchange Commission of Zimbabwe (SECZim) Capital Market Newsletter, Issue 2 of 2026, US dollar-denominated collective investment scheme funds under management (FUM) increased by 73,54 percent to US$239,84 million as at March 31, 2026, from US$138,20 million at the end of December 2025.
During the same period, Zimbabwe Gold (ZiG)-denominated funds under management declined by 49,48 percent to ZiG831,26 million from ZiG1,65 billion.
SECZim said the decline in ZiG-denominated assets did not necessarily reflect reduced investor participation but was largely due to some fund managers transitioning from ZiG to US-dollar reporting.
Collective investment schemes pool funds from multiple investors and invest them in professionally managed portfolios of financial assets such as listed equities, money market instruments, bonds and other approved securities.
The structure enables investors, particularly small retail investors, to access diversified investment portfolios without having to purchase individual securities directly.
Acting chief executive Mr Tichaona Mushambadope said Zimbabwe’s capital markets were undergoing significant transformation driven by technological innovation and changing global investment trends.
“Capital markets across the world are evolving rapidly through advances in artificial intelligence, digital assets, tokenisation, sustainable finance and financial technology.
“Zimbabwe has a unique opportunity not only to embrace these developments but also to position itself as a regional leader in modern, innovative and inclusive capital markets,” he said.
Mr Mushambadope said innovation should also broaden investment opportunities while helping mobilise long-term capital into productive sectors of the economy.
“Innovation must also create new opportunities for investors and issuers. The Commission is supporting the development of sustainable finance instruments, climate finance, Exchange Traded Funds (ETFs), Real Estate Investment Trusts (REITs), venture capital, tokenised securities and appropriately regulated virtual asset markets.
“These products will help mobilise long-term capital for infrastructure, agriculture, mining, manufacturing, housing, renewable energy and other productive sectors of the economy,” he said.
Equally important, he said, is building an informed investing public.
“Through enhanced investor education and the establishment of the Capital Markets Institute, SECZim is strengthening financial literacy, professional capacity and a culture of responsible investing.
“Well-informed investors are the foundation of a resilient and transparent capital market,” said Mr Mushambadope.
In Zimbabwe, some of the prominent collective investment schemes include Old Mutual Investment Group Zimbabwe’s Money Market Fund, which invests primarily in short-term money market instruments to provide liquidity and capital preservation and Datvest Asset Management’s Equity Fund, which focuses on long-term capital appreciation through investments in listed equities.
The latest report also showed growing participation by investors through digital trading platforms. As at March 31, 2026, active investor accounts on C-Trade and ZSE Direct had increased by 2,97 percent to 39,111 from 37,982 recorded in the previous quarter.
The online trading platforms processed buy trades worth ZiG551,29 million during the quarter, while sell trades totalled ZiG12,51 million, highlighting continued growth in digital access to Zimbabwe’s capital markets.
