THE launch of the Zimbabwe Entrepreneurship Exchange (ZEEX) has been welcomed by business leaders as a potentially transformative development for small and medium enterprises (SMEs), with industry players urging authorities to focus on effective implementation to ensure the platform delivers meaningful access to capital.
The Securities and Exchange Commission of Zimbabwe (SECZim) recently approved the launch of the SME-focused exchange, which is expected to broaden access to investment capital while deepening the country’s financial markets.
Former Zimbabwe National Chamber of Commerce (ZNCC) Matabeleland vice-president Mr Louis Herbst said the initiative addresses one of the biggest challenges facing SMEs — access to sustainable growth capital.
“For many years, SMEs have been recognised as the backbone of economic activity and employment creation, yet one of their greatest limitations has remained access to sustainable growth capital. Traditional financing models are often not fully aligned to the realities and growth cycles of emerging businesses,” said Mr Herbst.
ZEEX is expected to provide a structured, transparent and cost-effective platform through which entrepreneurs and growing enterprises can raise capital while offering investors opportunities to participate in the country’s dynamic SME sector.
Mr Herbst said the exchange presents an alternative to traditional bank financing and could encourage greater business formalisation and improved corporate governance.
“An SME-focused exchange introduces an alternative pathway for entrepreneurs to access investment while also encouraging improved governance, transparency and business formalisation,” he said.
However, he cautioned that the long-term success of the initiative would depend on how effectively it is implemented.
“The true measure of success will not be the announcement itself, but the practical outcomes. The market will need to ensure listing requirements are accessible, investor confidence is cultivated, liquidity is supported, and SMEs are adequately prepared to operate within a public market environment,” he said.
Mr Herbst said if successfully implemented, ZEEX could become more than just a capital-raising platform.
“This is a progressive step, and the focus now shifts from launch to execution and measurable impact. Exciting times ahead and we all anxiously awaiting the eligibility requirements,” he said.
Bulawayo Chamber of SMEs programmes coordinator Mr Nketa Mangoye Dlamini also welcomed the development, describing it as a critical opportunity for small businesses that often struggle to secure funding for expansion.
“So obviously, when we have a facility in the entrepreneurship exchange, then these guys can actually list in the stock exchange and specifically look for partners, for investors and or look for public funding,” said Mr Dlamini.
He said inadequate capital remains one of the biggest barriers preventing SMEs from expanding into national, regional and international markets.
Mr Dlamini added that attracting investors would not only provide funding but also improve competitiveness through investment in modern equipment, systems and expert advice.
“When you get investors, they will then be in a position to now explore the markets and certify the markets with quality products, because then they can buy maybe some of the machinery. They can invest in good systems. They can easily take maybe international advice and manage to pay for it. Because then they are well capitalised,” he said.
The chamber said it would embark on awareness campaigns to ensure SMEs understand how the exchange works and can take advantage of the opportunities it offers.
It also plans to engage the Zimbabwe Stock Exchange and ZEEX management on listing requirements to help prepare businesses seeking to access the platform.
“We’re happy as SMEs. We’re happy as a voice of the micro, small, mid and enterprise for this development, and we compliment and praise the government for introducing such a facility,” said Mr Dlamini.
“Obviously, we now need to inform the SMEs that there’s a new facility, which is available for them so that they can take it and utilise it.
“So, there’s a lot of advocacy. There’s a lot of spreading information. And then also we might then maybe talk to Zimbabwe Stock Exchange, Zimbabwe Enterprise Exchange and see the requirements of SMEs listing, then we assist them to reach that level.”
With SMEs accounting for a significant share of Zimbabwe’s economic activity and employment, business leaders say the success of ZEEX will ultimately be measured by its ability to channel investment into growing enterprises and support entrepreneurship-driven economic growth.-herald
