zimbabwestockexchangelogo.jpgThe Zimbabwe Stock Exchange has since independence experienced an increase in the number of black entrepreneurs taking part in share trading, a move that has empowered locals to venture into mainstream business activities.

Thirty-two years after Zimbabwe gained independence, the ZSE has emerged as a shining beacon of government’s empowerment policies as several black entrepreneurs are now involved in a market that used to be dominated by the white minority.

Official data shows that more than 70% of listed firms are owned by black shareholders, while stock broking firms that used to be white-dominated are now also being controlled by   indigenous Zimbabweans.

Securities Exchange Commission of Zimbabwe Chairperson, Mrs. Willia Bonyongwe says independence ushered a new era of local business people who have excelled in share dealings and ownership of several listed firms.

“Indeed there has been an increase in the volume of blacks owning shares and firms,” said Mrs Bonyongwe.

A local entrepreneur, Mr. Jason Passad says the increase in the volume of share trading by blacks reflects government’s commitment to ensuring that locals own the means of production.

“We have witnessed an increase in the share trading level of locals and this is positive,” Mr Passad said.

A member of the Marketers’ Association of Zimbabwe, Mr. Gillian Rusike says blacks should take advantage of government’s indigenisation policy through increasing shareholding on various listed stocks.

 

“I think we are in the right track and we shall continue to cement the spot of freedom,” said Mr Rusike.

The fact that indigenous people are owning and controlling listed companies on the local bourse bears testimony that for the past 32 years Zimbabweans have continued to uphold the principle of empowering themselves with a view of managing economic resources.

This year’s 32nd independence celebrations are being held under the theme: ‘Indigenisation and Empowerment for Social and Economic Transformation.’