Online Reporter
Nelson Gahadza
Senior Business Reporter
The Securities and Exchange Commission of Zimbabwe (SecZim) has approved seven innovative financial technology solutions for testing under its regulatory sandbox to accelerate the development of new capital market products.This will also ensure that emerging technologies are introduced within a controlled regulatory framework.The approvals cover blockchain-based capital raising, asset and securities tokenisation, synthetic trading and crowdfunding, reflecting growing interest in technology-driven solutions that could broaden participation in Zimbabwe’s capital markets and create alternative channels for raising and investing capital.
In a notice updating market participants and investors on approved sandbox participants, SecZim said the solutions would be tested within defined parameters and under its direct regulatory oversight.
“The Regulatory Sandbox provides a controlled, supervised and timed environment within which approved participants may test innovative products, services and business models,” acting SecZim chief executive Mr Tichaona Mushambadope said.
He said participation in the programme was restricted to the testing of approved solutions within specified parameters and during prescribed testing periods.
“Participation in the Sandbox is limited to the testing of approved solutions within defined parameters and under the commission’s regulatory oversight within a given testing period,” Mr Mushambadope said.
The latest cohort comprises Zimbabwe Entrepreneurship Exchange, which will test a blockchain-driven capital-raising platform, Ndarama Standard (Private) Limited, with an asset tokenisation platform and Questview Brokers (Private) Limited, which is testing a synthetic trading platform.
Crowdaxe Capital (Private) Limited has also been admitted to test a web-based crowdfunding platform, while Procode Platforms (Private) Limited will test a securities tokenisation platform.
Financial Securities Exchange (Private) Limited has been approved to test an asset tokenisation solution, while Colmin Resources Zimbabwe (Private) Limited will test an infrastructure tokenisation platform.
Analysts believe the approvals point to the expanding scope of fintech applications being considered within Zimbabwe’s capital market regulatory architecture, particularly in areas such as digital ownership, alternative fundraising mechanisms and technology-enabled trading.
SecZim introduced an innovation office as part of efforts to engage with technology innovators and assess new financial products and services.
The regulator subsequently developed regulatory sandbox guidelines to allow potential capital market innovations to undergo live testing before wider market deployment.
