How To Buy Shares In Zimbabwe

By | January 2, 2023

How To Buy Shares In Zimbabwe

A share is a unit of ownership. It is also referred to as equity. When one purchases a share in a company he/she becomes a part owner in that company. He/she will be entitled to certain rights e.g. dividend and voting.

In this article tries to answer the question by publishing How To Buy Shares In Zimbabwe

Below are How To Buy Shares In Zimbabwe

Investing on the ZSE

Before the introduction of online trading platforms, investors would solely trade on ZSE through a registered stockbroker. With the technological advancements, Investors now have two channels when investing on the ZSE. One can trade through a stockbroker or through online platforms like ZSE Direct.

A stockbroker is a market professional who buys and sells securities on behalf of clients at a Stock Exchange in return for a brokerage commission. Licensed by SECZ and Member of the ZSE (

Why you need a stockbroker

One of the most important questions asked is why one needs a stockbroker when trading on the ZSE. The ZSE provides a secure and regulated trading environment where only registered ZSE market participants have direct access to the market for trading securities. Registered ZSE market participants typically act in the capacity of a stockbroker, executing purchase and sale transactions on behalf of investors in return for a service fee (brokerage).

An investor can choose whether to make their own decisions regarding what and when to buy and sell or seek the advice from a professional or adopt both strategies.

Investing on the ZSE through a stockbroker

To start investing on the ZSE through a stockbroker, follow the below steps;

1. Open a Trading account

Practically more than one account is required for an investor to invest in the stock market. Bundled under the term “trading account” comprises the following:

A stockbroking trading account (with any of the current 20 stockbroking firms )

A Central Securities Depository (CSD) account

A custodial account (which can be provided by your stockbroker if they offer Broker controlled accounts or by one of the independent custody companies)

2. Submit Know Your Client (KYC) Documents

A trading account is opened  by completing and signing account opening forms at your preferred stockbroking firm and submitting the following KYC documents;

2.a) For individuals
Copy of ID (passport for foreign investors)

Proof of residence (utility bill within three months from date of processing in name of account holder or accompanied by affidavit from lessor, if renting); and 2 passport size photos.

2.b) For companies/trusts/estates/NGOs
Registration certificate;

List of directors/trustees  (CR14 etc.)

Registered office details (CR6)

Directors/trustees’ KYC (same as in Individuals)

3. Deposit investment funds with your custodian or stockbroker*

If your stockbroker acts as your custodian (broker controlled account) you deposit funds into your stockbroker trust account and if you have an independent custodian from your stockbroker you deposit the funds into the custodian account.

NB* – funds need to be deposited only when you intend to buy from the stock market.

4. Place orders with your stockbroker

Once you have made a decision to buy or sell securities in the stock market, you need to contact your stockbroker and convey your desire emphasizing the type, quantity and limit price (if any) of the securities to be transacted.

Other information like the time period the order will be valid is also required.

Your stockbroker then sends your request to the ZSE Automated Trading System (ATS), where it is entered on a central order book with all the other requests to buy or sell shares.

If the price you want to pay is matched with a seller at the same price, the transaction takes place and you will become the owner of the shares you decided to buy.​

Information provided in this article is for educational purposes and does not constitute financial advice. You should obtain independent advice from a Registered Stockbroker or Financial Advisor before making any financial decisions.

For more information about how to invest on the ZSE, visit the ZSE training portal, email or interact with us on our social media platforms @Zimbabwe Stock Exchange on Twitter, Facebook, Linkedin and Instagram.

What are the requirements for opening a trading account with a stockbroker?

A: You open a trading account by completing and signing account opening forms at your preferred stockbroking firm. The stockbroker will require:

a) For individuals
● copy of ID (passport for foreign investors)
● proof of residence (utility bill within three month from date of processing in name of account holder or accompanied by affidavit from lessor, if renting); and
● 2 passport size photos.

b) For Companies/Trusts/Estates/NGOs
● registration certificate;
● list of directors/trustees (CR14 etc.)
● registered office details (CR6)
● directors/trustees’ KYC (same as in Individuals)

What are the roles of the ZSE?

A: The roles of ZSE are:
●Facilitating raising of long term capital for companies, Government and semi Government institutions;
●Providing a regulated platform for secondary market buying and selling of securities;
●Provision of information such as historical financials, securities prices and market reports; and
●Regulating stockbrokers, market makers and security issuers.

Which companies are selling shares in Zimbabwe?


  • MARKET MAKERS. Akribos Securities (Pvt) Limited. Datvest Modified Consumer Staples ETF. Old Mutual Securities (Pvt) Limited. Old Mutual ZSE Top Ten ETF. …
  • Akribos Securities (Pvt) Limited. Ingenium Capital (Pvt) Limited. Inter-Horizon Securities (Pvt) Limited. Morgan and Company (Pvt) Limited.

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