Capital Markets & Securities Depository
Chengetedzai Depository Company Limited
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Chengetedzai Depository Company Limited was set up in order to establish and operate a central securities depository for the Zimbabwe securities industry. Chengetedzai won the right to establish the first Central Securities Depository (“CSD”) company in Zimbabwe on 27 December 2010 in a public tender from the Securities Commission of Zimbabwe.
The company subsequently began operations in September 2014 and successfully implemented the project. A CSD is a company that operates an electronic book entry system to record and maintain securities and to register their transfer. Securities are maintained in electronic form in the investor’s account just like how money is kept in any bank account. In a CSD system, ownership will be changed as soon as securities move from one investor account to another. The system is purely a settlement vehicle for transactions that have been traded on a registered securities exchange.
As at end of October 2020, 55.02% of the ZSE equities market capitalisation was accounted for by securities registered on the CSD and had a total of ZWL$99.87 billion in value. The cumulative number of accounts opened is 30,275, with local investors accounting for 94% of the total accounts as at 31 October 2020.
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Aura CSX
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Aura CSX is a platform developed to bridge the gap between access of financial securities among multiple countries. It enables the trade of financial assets within different economic sectors and regions with great ease and reduced timelines. The company has leveraged on technology and global trends in securities trading that offers investors world class service on local securities. Service delivery channels include web portals, mobile applications and over the counter broker service. The platform encompasses a demo trading platform that allows people to learn how trading, investing and the stock exchange work. This helps create an appetite in the market for trading and investing which leads to an increase in the percentage of the market that actively participates in trading and investing in Africa.
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Southern Africa
Mercantile Exchange (SAMEX)
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Aura Group has also established the Southern Africa Mercantile Exchange (SAMEX) as a subsidiary. The Company is focused on establishing an ultra-modern, automated stock exchange in Zimbabwe. This new exchange will cater to small, medium, and large enterprises, offering trading of equities, bonds, derivatives, and commodities. SAMEX aims to provide a secure and efficient trading platform through modern technology, partnering with CMA Small Systems to implement an advanced Automated Trading System (ATS) that supports seamless integration with the existing capital market ecosystem. The exchange will facilitate direct access via mobile and online platforms and cater to diverse market needs while adhering to international best practices.
SAMEX received a Securities Exchange license in 2022 and plans to revolutionize Zimbabwe’s financial markets by providing an innovative platform for both primary and secondary listings. The company’s strategic focus is on leveraging technology to reduce costs, improve processing efficiency, and support the country's infrastructure development through bond markets. With a vision to become a regional powerhouse, SAMEX aims to attract foreign investment and play a key role in national projects such as the privatization of parastatals and the establishment of Zimbabwe’s Export Processing Zone in Victoria Falls.
