Zimbabwe Stock Exchange
The Zimbabwe Stock Exchange is a small but active stock exchange in Africa. It has been open to foreign investment since
1993. It has about a dozen members and over 65 listed securities. There are two indices, the Zimbabwe Industrial Index and the Zimbabwe Mining Index.
The first stock exchange in Zimbabwe opened its doors shortly after the arrival of the Pioneer Column in Bulawayo in
1896. It was however only operative for about 6 years. Other stock exchanges were established in Gwelo (Gweru) and Umtali (Mutare). The latter, also founded in
1896, thrived on the success of local mining, but with the realisation that deposits in the area were not extensive, activity declined and it closed in
1924. After
World War II a new exchange was founded in
Bulawayo by
Alfred Mulock Bentley and dealing started in
January 1946.
A second floor was opened in Salisbury (Harare) in December 1951 and trading between the two centres was by telephone. They continued operating until it was decided that legislation should be enacted to govern the rights and obligations of both members of the Exchange and the general investing public.
The Zimbabwe Stock Exchange Act reached the statute book in January 1974. The members of the Exchange continued to trade as before, but it became necessary for legal reasons to bring into being a new Exchange coincidental with the passing of the legislation. The present Exchange therefore dates back from the passing of the Act.
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Official site
