derick.khumalo
Nqobile Bhebhe
[email protected]
FINANCE, Economic Development and Investment Promotion Minister Professor Mthuli Ncube says the launch of the Zimbabwe Entrepreneurship Exchange (ZEEX) marks a significant milestone in broadening Zimbabwe’s capital markets and empowering small and medium-sized enterprises (SMEs) through improved access to long-term financing.
Speaking at the official launch of ZEEX in Bulawayo today, Prof Ncube said the new exchange was a deliberate intervention to bridge the long-standing financing gap facing SMEs, which remain the backbone of the economy but have historically struggled to raise affordable capital.
“We celebrate the launch of the Zimbabwe Entrepreneurship Exchange, ZEEX.
“This is not merely the introduction of a new platform to a capital markets architecture, but a deliberate and necessary intervention to correct a long-standing imbalance in the way businesses that actually enter our economy have had the least access to the capital markets that could help them grow,” he said.
Prof Ncube said the establishment of ZEEX was aligned with the objectives of the National Development Strategy 2 (NDS2) and Vision 2030, which recognise the central role of entrepreneurship and private sector-led growth in transforming the economy.
“The launch of ZEEX speaks directly to the pillars of our National Development Strategy 2 and Vision 2030.
“The goal is to become an upper-middle-income economy by 2030, and this cannot be realised on the strength of the large enterprises alone.
“It requires a broad and dynamic base of entrepreneurs and small businesses that can also be formalised, that can be financed and also be integrated,” he said.
He said NDS2 explicitly prioritises the deepening of financial markets, promotion of financial inclusion and support for private sector-led growth, with ZEEX providing a practical mechanism to advance those policy objectives.
Prof Ncube noted that the exchange comes at a time when SMEs contribute more than 60 percent of Zimbabwe’s gross domestic product but continue to face limited access to affordable finance.
“The ZEEX comes at an opportune time when SMEs contribute over 60% to our national GDP. This launch today now changes the narrative.
“The ZEEX platform gives these businesses tools to formalise, to scale and to access the kind of patient capital that is historically reserved for large companies.
“This benefits the businesses themselves and the economy through deepening capital markets. Every new issuer, instrument and investment drawn into this space adds liquidity, depth and credibility to Zimbabwe’s financial sector,” he said.
Online Reporter