MansaMarkets
Closed
ZSE · Zimbabwe

Best Stockbrokers in Zimbabwe

The ZSE has historically been one of Africa's better-performing markets when adjusted for local currency, but Zimbabwe's macroeconomic volatility — currency, inflation, and policy — makes it a market for sophisticated investors only. The Victoria Falls Stock Exchange (VFEX), Zimbabwe's USD-denominated bourse, has attracted increasing dual-listings and is the more practical venue for foreign portfolio capital.

Regulator: Securities and Exchange Commission of Zimbabwe (SECZ)
Depository: Chengetedzai Depository Company

5 regulated brokers covering ZSE

Every broker listed below is licensed by Securities and Exchange Commission of Zimbabwe (SECZ). We do not rank them — order is informational only. Always verify current licensing on the regulator's website before opening an account.

Imara Edwards Securities

Traditional Broker

Pan-African Imara Group's Zimbabwe arm. Strong research and the largest foreign-investor desk on the ZSE.

Best for:
Institutional, HNW, and foreign portfolio investors
Mobile app:
No
Access:
Foreign investors welcome
Visit Imara Edwards Securities →

IH Securities

Traditional Broker

Long-established Zimbabwean stockbroker. ZSE and VFEX execution, advisory, and research.

Best for:
Institutional and HNW investors
Mobile app:
No
Access:
Foreign investors welcome
Visit IH Securities →

Lynton-Edwards Stockbrokers

Traditional Broker

Zimbabwean licensed broker offering ZSE/VFEX execution and corporate finance.

Best for:
Mid-tier institutional and corporate accounts
Mobile app:
No
Access:
Foreign investors welcome
Visit Lynton-Edwards Stockbrokers →

MMC Capital

Traditional Broker

Zimbabwean investment manager with brokerage and discretionary portfolio services.

Best for:
HNW investors and wealth-managed accounts
Mobile app:
No
Access:
Foreign investors welcome
Visit MMC Capital →

Akribos Securities

Traditional Broker

Boutique Zimbabwean stockbroker. ZSE/VFEX equities and corporate finance.

Best for:
Smaller institutional and retail clients
Mobile app:
No
Access:
Foreign investors welcome
Visit Akribos Securities →

How to open an account on the ZSE

  1. 1

    Choose ZSE or VFEX

    The ZSE trades in Zimbabwe Dollars; the VFEX trades in USD. For most foreign investors, the VFEX is the more practical venue.

  2. 2

    Open a CSD account

    Through any SECZ-licensed broker. The Chengetedzai CSD covers both ZSE and VFEX.

  3. 3

    Currency considerations

    ZSE investments are exposed to Zimbabwe Dollar volatility. VFEX listings settle in USD, removing local-currency risk.

KYC documents you'll need

  • Valid passport
  • ZIMRA tax number
  • Proof of address
  • Source-of-funds declaration

Fees and tax

Dividend withholding tax15% – 20%
Capital gains tax on listed equity1.5% – 5% depending on holding period
Typical brokerage commission1.5% – 2.5%

Fees and tax rates are indicative and change. Verify current rates with your broker and the latest Finance Act before transacting.

Frequently asked questions

Should foreign investors prefer ZSE or VFEX?

VFEX is the practical answer for most foreign investors. It trades in USD, removing Zimbabwe Dollar inflation/devaluation risk, and increasingly hosts dual-listings of the largest Zimbabwean companies. The ZSE remains an option for investors with conviction on local-currency assets.

What is the VFEX?

The Victoria Falls Stock Exchange is Zimbabwe's USD-denominated bourse, opened in 2020 to attract foreign capital with USD settlement and lighter exchange-control treatment. Major dual-listings include Padenga, Caledonia Mining, Innscor, and others.

Keep going