DESPITE the significant strides that have been made in the development of Zimbabwe’s capital markets since independence in 1980, recurrent currency crises have, however, made a mess of it with the spheres, which are supposed to provide channels of investment, now reduced to speculative and hedging avenues.
Since 1980, there have been notable improvements to the framework of the capital markets in the southern African country such as the introduction of a regulator in 2008 when the Securities and Exchange Commission of Zimbabwe (SECZIM) was established through the Securities Act.
Peter Kadzere, the managing director at a local wealth management firm, Smartvest, told The Financial Gazette that the introduction of the regulator was one of the major positives in the domain since 1980.
On November 14, 1997, the ZSE fell 46 percent after the country’s currency lost 72 percent in value against the US dollar.
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