Omega Ukama 
AT THE beginning of this year, Morgan & Co launched Zimbabwe’s first actively managed Exchange Traded Fund (ETF), which was also the country’s third derivative to trade on a mainstream exchange. The Financial Gazette’s Deputy News Editor Omega Ukama (OU) caught up with the investment bank’s executive director, Davide Muchengi (DM), to get insights on the local market’s prospects for financial innovation. Below are excerpts of the interview.
OU: Congratulations on listing Zimbabwe’s first actively managed ETF. As a relatively new player in the market, what do you think allowed you to beat well-established firms to the punch?
DM: Thank you but kudos go to Old Mutual, which paved the way for us with the first ETF!
I would say one of our core values is ‘Innovation’ and as an organisation we want to be on the forefront of introducing new and exciting products to the market.
Additionally, the dynamism in our team was a key factor in determining the success of the ETF listing.
We also pride ourselves in focusing on fostering and nurturing relationships with our industry peers and regulators. This made communication with the Securities and Exchange Commission of Zimbabwe (SecZim) and Zimbabwe Stock Exchange (ZSE) relatively seamless throughout the listing journey.
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