Stock exchanges
Number of listed companies
Domestic market capitalization
million US$

Zimbabwe Stock Exchange

Name Zimbabwe Stock Exchange
Country Zimbabwe
Number of listed companies 56
Domestic market capitalization 28585.65 million US$
SSE Partner Exchange Yes
Has annual sustainability report No

ESG reporting required as a listing rule Yes

  • In June 2019 the exchange announced new listing requirements, which includes “Part XXI Sustainability Information and Disclosure (paragraphs 399 to 404, pages 157 to 158). The new listing requirements can be found here.

Has written guidance on ESG reporting No

Offers ESG related training Yes

In April 2023, the ZSE in partnership with Institute for Sustainability Africa (INŚAF) hosted an ESG Training ; see LinkedIn Source

Market covered by sustainability-related index No

Has sustainability bond listing segment No

Has SME listing platform No

Women on boards mandatory minimum rule No

Additional information
Organizational model of stock exchange
  • Public Limited Company

Regulatory bodies

Regulatory model
  • The Zimbabwe Stock Exchange (ZSE) Act reached the statute book in January 1974. The members of the Exchange continued to trade as before. However for legal reasons, it became necessary to bring into being a new Exchange coincidental with the passing of the legislation.The present Exchange therefore dates back from the passing of the Act. In 2004, the Securities Act was promulgated to repeal the ZSE Act and became operational in September 2008. The Securities Commission of Zimbabwe is the capital market regulator and it became operational in October 2008 and is governed by commissioners appointed by the Minister of Finance with a tenure of four years. (source)
  • The Zimbabwe Stock Exchange serves three critical functions:
  1. Providing a link between companies that need funds to set up new businesses or to expand current operations and investors that have excess funds to invest in such companies
  2. Provide a regulated market place for buying and selling of shares at prices determined by supply and demand, not withstanding other macro economic fundamentals
  3. Provide a properly constituted and regulated environment that ensures market integrity and fairness among stock market participants. (source)

About the stock exchange
Location: Harare, Zimbabwe

  • The Zimbabwe Stock Exchange was founded in 1946. In 2009, Zimbabwe adopted the USD as its primary trading currency
Ownership of Exchange (Shares >4% only) Share
Government of Zimbabwe 32%

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.


Criteria Considered

Country Country of primary residence or registration
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include:

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.