securities.jpgThe Securities Commission of Zimbabwe says the implementation of the central securities depository system is being frustrated by stakeholders that are reluctant to adopt the system which brings transparency in the trading at the local bourse.

In a bid to curb illegal trading at the Zimbabwe Stock Exchange, government set up the Securities Commission which proposed the setting up of a central securities depository system that allows electronic trading at the local bourse.

However, its implementation has been long overdue.

In an interview in the capital, Securities Commission of Zimbabwe Board Chairperson, Mrs Willia Bonyongwe said the process is becoming frustrating as partners in the setting up of the system are not forthcoming hence the prolonging of the process at the expense of investors.

The implementation of the central security depository system according to the securities commission will take another three years before its implementation hence the need for government to ensure that those willing can participate to ensure speedy implementation.

The Zimbabwe Stock Exchange experienced alleged illicit dealings in the Zimbabwean dollar era which has prompted government to propose the introduction of the CSD for the benefit of investors.