India has done a fantastic job on using Invoice Discount Exchange concept to provide funding for SMEs and an alternative investment opportunity. On ZEEX, we are partnering with established institutions to make it work. We are pleased to announce our partnership with CBZ RedSphere as a financing partner on ZEEX invoice discount exchange arm.
I would like Cabinet, Parliament and council to sit with this photograph for an afternoon.
In fact, every high school teacher, whatever the subject, should ask students to write an essay on what they see here. The answers would probably take us closer to the solution to Zimbabwe’s problems than most policy papers.
Every boardroom should spend time with it too. For good measure, the Zimra board should take it on a weekend retreat and ask its economists to calculate how much OK has paid in taxes over the past decade.
Then they should look again at the pavement outside.
I am keeping this photograph for my book.
Good morning 5am club. Sometimes, the biggest breakthroughs come disguised as breakdowns. Pay attention. God may be clearing space for something better than you could have imagined. Trust the unfolding.🌺
One of the things we have been working on behind the scenes is partnerships with funders for ZEEX. We are glad to announce award winning asset management firm Invesci as such as partner. We will be unveiling more of these over the next few days as we tick towards official launch
Man to man: You're now that person who is always tired, leaves early and comes late. You're now experiencing what your father experienced. Do you now forgive him for not always being there?
i think the @ZSE_ZW@BgoniJustin must do more in terms of advertising this new development how to list the types of businesses that can list the benefits etc, i think that needs more coverage, whats the point in having a sword if noone can see it
The launch of the Zimbabwe Entrepreneurship Exchange, ZEEX, is a welcome development and deserves serious support. At its best, it opens a pathway for local and diaspora entrepreneurs with strong ideas, credible businesses and growth ambitions to access a formal market without having to fit the mould of the traditional large listed company.
The concept can still be strengthened. The RBZ and the banking sector should allow more lending against listed scrip. A real credit market around these securities would give entrepreneurs a practical reason to list. Without that, many will remain informal, wary that a higher profile attracts Zimra, political attention and administrative harassment before it attracts capital.
The ZSE should also be allowed to trade in both currencies. Zimbabwe is a multicurrency economy. If a supermarket till can accept different currencies, there is no convincing reason why ZSE counters cannot do the same. VFEX is already exclusively USD. The ZSE should become genuinely multicurrency.
There is also the matter of trust. The past still haunts the ZSE. Old Mutual and PPC remain unlisted after arbitrary interventions that investors and issuers have not forgotten. Markets live on confidence, precedent and memory. Treasury can help ZEEX build credibility by lifting these restrictions and signalling that listed securities will be treated with consistency, legality and respect.
ZEEX is a good idea. It now needs the market architecture around it to match the ambition.