Zimbabwe Stock Exchange ZSE Direct trading platform

Zimbabwe exchange launches ZSE Direct trading

Thousands of Zimbabweans are using a digital trading platform ZSE Direct to buy and sell on the Zimbabwe Stock Exchange, and in the process boosting activity after foreign investors left. Monthly value traded on ZSE Direct has soared from $5m in January 2021 to $30m by August, according to news in The Chronicle.

The online platform was initially launched as a web-based version in September 2020 according to this report on website African Financials, and on 4 October the team announced the mobile version: .

Zimbabwe SE CEO Justin Bgoni says: “Key features.. on the web-based version of ZSE Direct include:

  • User-friendly interface
  • View of one’s portfolio
  • Market statistics
  • Market depth
  • Price range on both sell and buy tabs

“To ensure that clients reinvest their proceeds faster, ZSE Direct Instant was also added ensuring that all sell proceeds from successful matched and confirmed sell orders are credited to the ZSE Direct wallet of clients on the same trading day.” IZSE Direct Instant was launched in July, cutting wait time from the usual settlement time on the third business day after trading (“T+3”). There is a 2% administrative charge on sale proceeds.  

There are some 4,000 active participants in ZSE Direct, out of 7,000 potential clients registered at the central securities depository in June 2021.

More active engagement by locals has helped the ZSE, where foreign investors used to account for more than half the trading volumes (56% in 2013) but have largely exited the country due to currency woes. According to ZSE head of business development Mr Anymore Taruvinga: “ZSE Direct is just only open to Zimbabweans and it’s important to grow that investor base where your local investors can support your stock exchange.”

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