How to Buy Shares in Zimbabwe

A: All securities on the ZSE can be bought or sold through a registered stockbroker. A stockbroker acts as your agent in buying or selling securities. They also provide professional financial advice.

Q: Who is the ZSE?

A: The Zimbabwe Stock Exchange Limited (‘ZSE’) is a licensed securities exchange in terms of the Securities and Exchange Act (24:25), with a core mandate to facilitate long-term capital raising through a listing of securities as well as offering secondary market securities trading and issuer regulation services.

Q: Is the ZSE a self-regulatory organisation?

A: The ZSE is regulated by the Securities and Exchange Commission of Zimbabwe and efforts are underway to adopt a self-regulation structure.

Q: Is the Zimbabwe Stock Exchange a government entity?

A: No, the Zimbabwe Stock Exchange Limited (‘ZSE’) is owned by different shareholders.

Q: What are the roles of the ZSE?

A: The roles of ZSE are:
●Facilitating raising of long-term capital for companies, Government and semi Government institutions;
●Providing a regulated platform for secondary market buying and selling of securities;
●Provision of information such as historical financials, securities prices and market reports; and
●Regulating stockbrokers, market makers and security issuers.

Q: What are the securities traded on the ZSE?

A: The ZSE facilitates the listing and trading of the following security types:
●Ordinary shares;
●Preference shares;
●Depository receipts
●Debt securities such as debentures, notes and bonds; and
●Exchange Traded Funds

Q: What social media handles does the ZSE have and how can I access them?

The ZSE uses Twitter, Facebook, LinkedIn and Youtube, with the following handles

Twitter: @ZSE_ZW
Facebook: Zimbabwe Stock Exchange
LinkedIn: Zimbabwe Stock Exchange
Youtube: Zimbabwe Stock Exchange

Stock Market Information

Q: What is a stock exchange?

A: A stock exchange is a marketplace where financial securities are bought and sold.

Q: What are financial securities?

A: Financial securities represent a claim on the assets of the issuer and such claims can be ownership (as represented by equity securities) or creditor (represented by debt securities).

Q: What is a share?

A: A share is a unit of ownership. It is also referred to as equity. When one purchases a share in a company he/she becomes a part owner in that company. He/she will be entitled to certain rights e.g. dividend and voting.

Q: What are the rights and benefits of being a shareholder?

A: Shareholder rights and benefits can include the following:
• Participating in annual general meetings
• Receiving reports and information pertaining to the company invested in
• Dividends
• Further issues of shares
• Share buy-backs, and
• Other corporate actions

Q: What is Primary Market?

A: Primary market offerings of securities occur when securities are offered for sale for the very first time.

Q: What is meant by Secondary Market Trading?

A: Secondary market trading of securities occurs when securities that have been bought through a primary market offering are traded on the ZSE. In the secondary market, an investor buys or sells securities to other investors.

Q: What is an ISIN Code?

A: Each security on the ZSE is assigned an International Security Identification Number (ISIN) which identifies each security uniquely.

Q: What is the tax on dividends?

A: The withholding tax on dividends is 10%.

Q: What is the best way for me to keep track of my dividends?

A: Follow updates on corporate announcements on the ZSE website. Dividend notices are also published in the press.

Q: What is an Exchange Traded Fund (ETF)

A: An ETF is a listed investment product that tracks the performance of a basket of shares, bonds or commodities. ETFs can be bought and sold just like Ordinary Shares. The difference is that one ETF gives you exposure to more than one security or security type.

Q: What is a stockbroker?

A: A stockbroker is an agent licensed to buy and sell securities on an exchange on behalf of investors. To start the process of investing on the ZSE, you need to open a trading account with a ZSE-registered stockbroker.

Q: How do I find a stockbroker

A: To find a stockbroker, you can visit the stockbroker’s tab on this site the ZSE does not recommend one broker over the other but advises investors to do a comparison depending on one’s needs and investment goals.

Q: How do I become a stockbroker?

A: To become a stockbroker, one has to
● go through a rigorous training process within the industry
● At least 3 years industry experience- back office experience before one becomes a dealer then two years experience after becoming a dealer and before submission of application
● be in possession of a recognised degree in business-related studies
● have passed specified modules of the Registered Persons Examinations of the South African Institute of Financial Markets (SAIFM)
● be at least 21 years of age
● be ordinarily resident in Zimbabwe
● own assets in excess of his/ her liabilities by an amount stipulated in the members’ rules.

How to invest in the ZSE

Q: Can you buy securities directly with the ZSE?

A: All securities on the ZSE can be bought or sold through a registered stockbroker. A stockbroker acts as your agent in buying or selling securities. They also provide professional financial advice.

Q: What are the requirements for opening a trading account with a stockbroker?

A: You open a trading account by completing and signing account opening forms at your preferred stockbroking firm. The stockbroker will require:

a) For individuals
● copy of ID (passport for foreign investors)
● proof of residence (utility bill within three months from the date of processing in name of the account holder or accompanied by an affidavit from the lessor, if renting); and
● 2 passport-size photos.

b) For Companies/Trusts/Estates/NGOs
● registration certificate;
● list of directors/trustees (CR14 etc.)
● registered office details (CR6)
● directors/trustees’ KYC (same as in Individuals)

Q: Do I get charged to buy or sell shares and any other securities on the ZSE

A: There are transaction costs which are charged on each and every purchase and sale transaction and the charges are currently as follows:

Equities and ETFs
Buying Selling
Brokers Commission0.92%0.92%
VAT (14.5% of brokerage)0.1334%0.1334%
CSD Levy0.10%0.10%
Stamp Duty0.25%Nil
ZSE Levy0.10%0.10%
SECZ Levy0.16%0.16%
Investor Protection Levy0.025%0.025%
Capital Gains taxNil1%
Grand Total  4.1268%
Debt Securities 
Brokers Commission0.065%0.065%
VAT (14.5% of brokerage)0.009425%0.009425%
CSD Levy0.01%0.01%
ZSE Levy0.012%0.012%
SECZ Levy0.01%0.01%
Investor Protection Levy0.003%0.003%
Grand Total                         0.21885%

Q: Is there a capital gains tax on the profits from the sale of listed shares?

A: Capital gains withholding tax on the sale of listed shares is 1% of the sale proceeds.

Q: How can I learn about shares and investing?

A: To learn about investing and the investing process, you can enrol in the free Investment 101 course offered by the ZSE accessible at You can also download the ZSE Investment guide available on the ZSE website (

We also recommend you contact a registered stockbroker or financial advisor. For a list of the registered stockbrokers visit

There are also many online resources dedicated to shareholder and investor education. Here are some investor education resources online:-
● Begin investing
● Better Investing
● Investor Education
● Investopedia

Q: Can I buy shares without cash upfront?

A: No, all trades on ZSE are required to be refunded.

Q: How much do I have to earn to buy shares on the Zimbabwe Stock Exchange Limited?

A: A person from any income level, who has some amount of surplus funds available no matter how small, may decide to buy shares on ZSE.

What is the minimum amount to buy shares?

The answer is simple: There is no minimum limit to start investing in the Indian stock market. You simply need to have sufficient capital to cover the price of a stock. So, you do not need a huge amount of money to start trading in India. It is possible to buy stocks for even less than Rs 10!

How much is Econet Zimbabwe share?

ZWL 135.7616

The current share price of Econet Wireless Zimbabwe Limited (ECO) is ZWL 135.7616. ECO closed its last trading day (Tuesday, January 31, 2023) at 135.7616 ZWL per share on the Zimbabwe Stock Exchange (ZSE), recording a 0.7% drop from its previous closing price of 136.6673 ZWL.

Where to invest in Zimbabwe?

The priority sector for investment includes mining, manufacturing, agriculture, tourism, ICT and infrastructure development. In the mining sector, the following major tradeable minerals offer investment opportunities: Gold, Platinum, Chromite, Coal, Nickel, Diamond, Iron ore, Copper and Coal Bed Methane.

Which companies to invest in Zimbabwe?

  • Delta Corporation. 405.05. +2.05+0.51% Loading.
  • Econet Wireless Zimbabwe. 136.00. 0.000.00% Loading.
  • Innscor Africa. 710.50. +0.50+0.07% Loading.
  • Masimba Holdings. 100.0000. +3.3500+3.47% Loading.
  • Mashonaland Holdings. 9.000. +1.000+12.50% Loading.
  • OK Zimbabwe. 38.050. +0.050+0.13% Loading.

How do I start to buy shares?

How do I start buying shares? The easiest and cheapest way to buy shares is by using an investment platform. Once you are signed up, you simply have to select the shares you want to buy and home many of them. An investment platform lets you buy, sell and monitor your investments in one place.