The Securities and Exchange Commission of Zimbabwe published Capital Market Newsletter Issue 2 of 2026, setting out its first-quarter 2026 review of the capital markets. The update shows expansion across the sector, with the number of regulated entities and collective investment schemes rising to 233 from 229 in Q4 2025, combined market capitalization across the Zimbabwe Stock Exchange, Victoria Falls Stock Exchange and Financial Securities Exchange increasing 51.10% to USD 8.58 billion, and total funds under management by investment and asset managers rising 26% to ZWG 123.77 billion. Market activity also strengthened, although performance was uneven across products and currencies. The Zimbabwe Stock Exchange recorded ZWG 5.99 billion in equities turnover, ZWG 553,414 in exchange-traded funds turnover and ZWG 160.45 million in real estate investment trusts turnover, while Financial Securities Exchange trades totaled ZWG 9.34 million. Active registered collective investment schemes stood at 56 and unit holders rose to 78,003 from 74,453. ZWG-denominated collective investment scheme funds under management fell 49.48% to ZWG 831.26 million, which the newsletter attributes largely to some fund managers transitioning to USD reporting, while USD-denominated collective investment scheme funds under management rose 73.54% to USD 239.84 million. The review also shows most intermediaries remained above minimum capital thresholds, with 21 of 22 securities dealing firms and 32 of 35 asset managers adequately capitalized, while the securities sector's overall ML/TF/PF risk rating moved to Medium from Medium-Low. The newsletter also outlines forward work in market supervision and product development. It says the Commission is integrating RegTech and SupTech, exploring AI-powered market surveillance, and monitoring digital securities, tokenized assets and virtual asset service providers to develop an appropriate regulatory framework. Its sustainable finance roadmap includes plans to publish a green bond framework for public consultation, launch ESG disclosure guidelines for listed companies, explore a carbon credit trading framework and pursue a first green bond issuance on Zimbabwe's markets.

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