THE Zimbabwe Stock Exchange (ZSE) recorded a total market turnover of ZiG5,62 billion in 2025, representing a 146,96% increase from the prior year, it has been revealed.
During the similar period in 2024, the ZSE has recorded a market turnover of ZiG2,27 billion.
The total top traded counters on the bourse in 2025 were Econet Wireless Zimbabwe (Econet) at ZiG2,23 billion, Delta Corporation Limited (Delta) at ZiG2,01 billion, NMBZ Holdings Limited (ZiG314 million), CBZ Holdings Limited (ZiG218 million), and Tigere Reit (ZiG194 million).
Econet led the trades as the telco announced it was delisting from the ZSE, a move that financial services firm FBC Securities predicts will increase trades in Delta stocks.
In its new ZSE Holdings (ZSEH) 2025 Highlights report, ZSEH said the total turnover for the top five companies contributed 88,61% of the total market turnover for the period under review.
“The ZSE recorded a total market turnover of ZiG5,62 billion in 2025, representing a 146,96% increase from 2024,” ZSEH said.
Keep Reading
- Tarakinyu, Mhandu triumph at Victoria Falls marathon
- BCC, HCC adopt results-based ambulance services
- Water rationing looms in Bulawayo
- Building narratives: Chindiya empowers girls through sports
“The closing total market capitalisation for 2025 stood at ZiG91,62 billion, an increase of 34,29% from the previous year.
“The ZSE All Share Index closed the year at 277,86 points, a gain of 27,7% from the closing 217,58 points in 2024.”
In terms of equities, the top five biggest contributors to the bourse’s market capitalisation were Delta which contributed 31,83%, Econet (21,05%), FBC Holdings (9,59%), CBZ Holdings (6,89%), and the Rainbow Tourism Group (4,12%).
The Rainbow Tourism Group’s performance led to its total market capitalisation going beyond the US$100 million mark, joining four other blue chip companies with valuations over that mark.
However, ZSEH reported that foreign investor participation decreased to 20,96% in 2025, from 24,68% in 2024, with a net sells position of ZiG1,16 billion.
“The ZSE All Share Index, which is the measure of the overall market performance, closed the year at 277,86 points, a gain of 27,7% from 2024,” ZSEH said.
“The ZSE top 10 Index, which is the blue-chip index on the ZSE, gained by 30,91 % from 215,24% in 2024 to 281,78 points in 2025.”
ZSEH said the ZSE Consumer Discretionary Index recorded the highest gains in 2025, registering a 125,57% gain from 333,62 points to close at 752,55% points.
“The ZSE Depository held securities for a total of 13 issuers as at December 31, 2025 with one of the issuers being a self-listing of the ZSE Holdings Limited; seven Listed Equities; four Exchange Traded Funds (ETFs); and two Real Estate Investment Trusts (REITs),” ZSEH said.
The ZSE Depository is the system that safely holds and manages securities (like shares, bonds, or other financial instruments) in electronic form for investors trading on the bourse.
In terms of the Victoria Falls Stock Exchange (VFEX), the total value traded increased to US$111,05 million last year, from US$56,94 million in 2024.
Comparatively, in real terms, the ZSE recorded a high turnover as ZiG5,62 billion converts to US$216,31 million.
“The VFEX All Share Index rose from 104,08 points in 2024 to 177,12 points as at December 31, 2025, representing a 70,18% increase,” ZSEH said.
“Notably, 2025 recorded the highest VFEX All Share Index level since rebasing VFEX market capitalisation grew from US$1,28 billion in 2024 to US$2,1 billion in 2025, reflecting a strong 63,89% increase.”
In 2025, the VFEX had two new listings, namely, Kavango Resources Plc and the Eagle Real Estate Investment Trust.