Online Reporter
Nelson Gahadza
Zimpapers Business Hub
TSL Limited has secured US$23 million to support offtakers, farmers and traders on the Zimbabwe Mercantile Exchange (ZMX), in a move expected to inject liquidity and drive growth in trading volumes in the coming years.
ZMX, which operates as an electronic commodity trading platform, was established as a joint venture between the Financial Securities Exchange (FINSEC), TSL Limited, CBZ Holdings and the Government of Zimbabwe.
TSL, a diversified agricultural supply chain player, holds a 22,5 percent stake in the exchange, alongside Financial Securities Exchange (FINSEC) at 22,5 percent, CBZ at 35 percent and the Government at 20 percent, following Cabinet approval of the shareholding structure.
In addition to its shareholding, TSL provides warehousing and logistics solutions to the platform.
TSL chief executive Mr Derek Odoteye, in a presentation at the company’s analyst briefing last Friday, said the trade finance facilities were a critical step in strengthening activity on the commodity exchange, where growth has so far remained modest.
“We have got trade finance pledges amounting to US$23 million. What that does is it creates liquidity, which enhances trading volume,” he said.
He added that it will support the operators, farmers and traders on the platform. “We expect that with this increased liquidity, we should see growth in trading volumes in the years to come,” said Mr Odoteye.
Despite the expanded institutional framework, Mr Odoteye said trading activity on the exchange had remained subdued, although some incremental gains were recorded in the last financial year, which ended on October 31, 2025.
“There has been modest growth on the ZMX, but trading and commodities have remained subdued.
“The value of warehouse receipts that were written in the last year was up by 2 percent and totalled US$77,6 million worth of commodities,” he said.
During the year under review, the volume of commodities traded through warehouse receipts rose to 195 082 tonnes in the year under review, from 192,265 tonnes in the prior year, with maize and wheat accounting for the bulk of the trades, alongside small volumes of soya and other commodities.
