In Zimbabwe one can trade in shares through the Zimbabwe Stock Exchange or the Financial Securities Exchange. A stock exchange does not own shares. Instead, it acts as a market where stock buyers connect with stock sellers. Stocks can be traded on one or more of several possible exchanges.
How can one buy shares?
To open an investment account in Zimbabwe, one needs the services of a stockbroker. You will also need to establish business conditions such as the minimum investment amount accepted. This may differ from broker to broker and therefore we recommend that you consult at least three firms to enable you to choose whom to deal with. The names and contact details of registered stockbroking firms can also be found here: http://www.seczim.co.zw/regulated-entities/stockbrokers
One will also require the services of your stockbroker when selling your shares. Those interested are welcome to consult the Zimbabwe stock Exchange or the Financial Securities Exchange in the event of further questions.
What does an individual need to buy shares?
The documents required for opening an investments account with an asset manager, securities dealer such as a stockbroker, a custodian or Central Securities Depository (CSD) account have been reduced to just a national identity card, valid Zimbabwe bank account and a completed securities trading account opening form for both local investors and Zimbabweans in the diaspora.
What does a foreigner need to buy shares?
For foreigners, the requirements are now a valid passport in addition to the completed securities trading account form.
What do companies need to buy shares?
Local and foreign companies now require a certified copy of certificate of incorporation, a board resolution, national ID card or valid passport for signatories and a completed securities trading account opening form.
Please note: The new KYC requirements have been approved by the Reserve Bank of Zimbabwe’s Bank Use Promotion and Suppression of Money Laundering Unit. They are with immediate effect.