The Securities and Exchange Commission of Zimbabwe (Sec Zimbabwe) has joined the UK-funded Financial Sector Deepening Africa’s (FSD Africa) flagship Africa Regulator Support Programme.
BY MISHMA CHAKANYUKA
The programme is part of a continent-wide initiative designed to support capital market regulators to attain international standards.
In a statement, FSD Africa said the programme will support an institutional capacity assessment to review Sec Zimbabwe’s operations and identify areas that require strengthening.
The programme will also fund the development of a capital markets master plan that will outline the actions needed to develop the capital market sector and broaden Zimbabwe’s long-term financing base. Sec Zimbabwe would engage in knowledge-sharing with capital market regulators across Africa.
Commenting about the programme, head of office for the UK Department for International Development (DFID) in Zimbabwe and South Africa, Annabel Gerry said DFID was excited about the initiative as it would help unlock a key source of long-term financing for businesses.
“DFID is both excited and proud to be a part of this initiative that will assist in strengthening the SEC’s capacity to regulate the capital market. This will help unlock a key source of long-term financing for businesses that can drive robust and inclusive growth in Zimbabwe,” Gerry said.