FACTS (General)

What is ATS?

ATS (“Automated Trading System”) is an electronic platform offered by the ZSE for the purchase and sale of securities (shares, bonds, debentures and so on). The ATS has an order matching engine and replaces the manual trading of shares that we have all been used to in Zimbabwe.

How does the ATS work?

ATS electronically matches and executes “buy” and “sell” orders that stockbrokers would have brought into the system, in order for both buying and selling clients to get the best bargains available on the market for their shares. It is different from manual trading in that there is no human intervention in the processes of matching orders.

What are the benefits of the ATS for the ZSE, and for the investing public?

ATS ensures:

  • Transparency in share dealings;
  • Speed of execution;
  • Convenience: it eliminates human interference and Traders can do business from anywhere without necessarily having to attend “Call-Over” sessions at the ZSE;
  • Surveillance: The ZSE and The Securities and Exchange Commission of Zimbabwecan monitor trading activities of stockbrokers for the benefit of the investing public.

Is the manual system of trading that we are all used to not better for this country?

International best practice shows the trend is towards automation of trading. Manual systems by their nature are counter-progressive and may be manipulated at the expense of the investing public. In addition, manual systems are cumbersome and tend to be unattractive to the promotion of inflows of Foreign Direct Investment, which every country needs for development.

Can investors trade directly on the ATS?

Investors will be able to place orders with Stockbrokers as has always been the case. Future developments may allow certain classes of investors to have Broker-sponsored investor terminals which give them access to the system for order placement purposes.

Can investors view trading information real time on the ATS?

Initially the investing public will access trading information through their Stockbrokers. However, future developments may also allow the ZSE to issue “View Only” terminals to investors for the purpose of accessing trading data real time.

So what is the role of the ZSE on the ATS, and will stockbrokers still be necessary in this new trading environment?

All trades will be done via the Stockbrokers, as in the manual system. The only difference is that stockbrokers will trade from terminals installed in their offices, negating the need for the traders to attend Call-over sessions at the ZSE, as was the case with manual “Open Cry” system.

The Zimbabwe Stock Exchange will continue to have a supervisory role over the trading activities of the market and will direct, supervise and monitor activities on a daily basis.

Will I still get a Broker’s Note after trading on ATS?

The ATS is a trading engine and at the end of each day it will issue trading reports to relevant Stockbrokers who will still be responsible for issuing Brokers’ Notes to the various clients depending on their trades for the day.

How reliable is the ATS? Are we not going to have frequent breakdowns of the system?

The CAPIZAR Trading System and the corresponding reports menu, which constitute the ATS is a tried and tested system which has worked well in such markets as Mauritius, Ghana and Pakistan. The ZSE however, in installing the system, has followed internationally accepted best practice for project management and implementation protocols to ensure the system will be as reliable and as user friendly as it can get.

What IT infrastructure do I need to have an investor terminal?

A normal desktop/laptop with standard operating software and reasonably fast internet connectivity will be sufficient. Any additional specifications will be communicated on an individual basis as and when needed.

How user friendly is the ATS and does one need prior experience to operate the trades on ATS?

The ATS runs on the normal internet platform and has been proven during User Acceptance Testing to be quite user friendly, reliable and simple enough to meet requirements of the Zimbabwean market. Investors will not need prior training to benefit from the ATS since they will trade through interface with their respective stockbrokers.

What do I need to do in order to trade shares on the ATS?

Investors will need the following in order to trade on ATS, via their respective stockbrokers:-

  • For selling shares one needs to ensure the share certificates have been “de-materialised” by the CSD
  • Buying clients must ensure they have deposited sufficient cash to cover trades in a “broker-controlled” account with a settlement bank. Your stockbroker will assist you on how to comply with the above two points
  • Each client must ensure they have opened a CSD Customer Account and has been issued with a Customer ID Number with a Custodian of your choice: again your stockbroker will assist you with the process
  • You must ensure you have placed your order with your Stockbroker who will be able to transact on your behalf.

Can I buy shares without cash up front?

No. You will need to prefund a “Broker Controlled” Settlement Account with your Custodian before your Stockbroker can accept your buying instruction.

Can I place an order to buy or sell shares from anywhere in the world? Can I be able to link up with my stockbroker from anywhere on ATS?

Your link with the ATS will always be via your Stockbroker. Depending on what systems your stockbroker has in place for placement of orders onto his internal systems, you should technically be able to place orders from anywhere in the world. Technological advancement now allows business to be conducted from anywhere in the world.

Can I carry out a trade outside of the ATS? What are the consequences of trading outside of the ATS if my shares are listed on the ZSE?

Once the ATS goes live, and as long as the shares you want to trade are listed on the Zimbabwe Stock Exchange, it will no longer be possible to trade shares outside of the ATS. Your Stockbroker can advise on the consequences for breach.

Will I still be able to choose which stockbroker to use or one will be allocated to me by the ZSE to trade on this ATS?

As has always been the case, investors will have a choice on which Stockbrokers to use in trading on the ATS. The automation of trading by the Zimbabwe Stock Exchange will not eliminate any investor’s right to choose which Stockbrokers to trade through.

How will my shares and other securities trade on the ATS?

When a client gives an instruction to his/her stockbroking firm to buy or sell a particular stock, the stockbroker will enter the order on his/her terminal. The Automated Trading System automatically matches the orders against each other, resulting in trades. The Automated Trading System records the sale price, quantity, buyer and seller and time of the trade.

What is the trading schedule of the ZSE?

The market schedule for each business day is as follows:

Market State

Time (Local time)

Pre-Opening Session 0900hrs to 1000hrs
Continuous Session 1000hrs to 1500hrs
Market Closes 1500hrs

I have a number of share certificates with less than 100 shares each. Can I still be able to trade them on ATS?

The ATS has two basic markets for trading of shares: The Regular Board, where shares in excess of 100 can be traded, and the Odd Lot Board, where shares of size between 1 and 99 can be traded. Should you have shares of quantity less than 100, your stockbroker will be able to trade them on your behalf on the Odd Lot Board.

In the event that you are in possession of shares more than 100 but with a total that is not a multiple of 100, for example 1 339 shares, your stockbroker will be able to trade your shares as follows:

  • 1 300 shares traded normally on the Regular Board, and
  • 39 shares traded on the Odd Lot Board

Should you also wish to purchase shares on ATS which are less than 100, again your stockbroker will be able to trade such volume on the Odd Lot Board.

Who do I contact if I want to buy shares?

Buying or selling of shares on the ZSE is done through a registered stockbroking firm.

Do I get charged to buy shares and who pays the brokers for their services?

There are transactions costs which are charged on each and every purchase and sale transaction.

How can I learn about shares and investing?

There are many online resources dedicated to shareholder and investor education. If you interested in investing and the investing process we recommend you contact a registered broker or advisor.

Here are some investor education resources online:-

  • Begin investing
  • Better investing
  • Investor education
  • Investopedia

What is the tax on dividends?

The withholding tax on dividends is 10%.


What is the best way for me to keep track of my dividends?

You may view this page on the ZSE Data Portal which only tracks the release of dividend information or you may sign up to the ZSE Dividend Email Alert.


How can I get information on dividend declarations and payment dates?

Sign up to the ZSE Dividend Declaration Email Alert or sign up to Twitter. This page on our website streams dividend announcements.


When will electronic trading be implemented on the ZSE?       

A formal announcement by Authorised Officials of the ZSE will be made in due course.


What is happening with the ZSE demutualisation process?

A formal announcement by Authorised Officials of the ZSE will be made in due course.

When is the new CDS going to be implemented?

The Government of Zimbabwe has agreed with the ZSE and other key stakeholders on the scope and structure of the Central Securities Depository. Work is currently underway to have a fully functional Central Securities Depository.

Is the information on the ZSE Data Portal from the new electronic trading system?

No. The data is from the current systems which are in a state of transition pending the new electronic systems.


Where do I find information of all listed companies on the ZSE?

This list enables you to click through to all of the ZSE Company Data pages.

Can I ask for PDF annual reports and other releases?

We have associated ourselves with www.africanfinancials.com to undertake to procure that every annual report of every listed company post-2009 dollarization is available online through the ZSE Data Portal and www.africanfinancials.com.Whilst all efforts have been made some annual reports remain un-located. Should investors have them in their possession they are requested to forward them to the ZSE if in hardcopy or notify us here that you wish to forward the document/s to us.

Requests for historical corporate actions

The ZSE Data Portal undertakes to make all previous corporate announcements available for free online in PDF format. However, some historical information has yet to be located and is actively sought. If you have a PDF annual report or earnings release or investor presentation, please forward it to us.

Can I request Historical price data?

Yes, but a charge may apply. Contact the ZSE Data Vendor.

Which investor protection mechanisms apply?

The market has the following investor protection mechanisms:-

Investor Protection Fund

This fund is managed by trustees appointed by the Securities Commission of Zimbabwe, with representatives from ZSE, SECZ, institutional investors, a judge and a member of the public. It is funded by 0.05% of the transaction value of every trade on the ZSE. The Fund is meant to cushion investors from loss in circumstances specified in the rules of the Fund.

Professional Insurance Policies

Each broking firm is required to carry a professional indemnity policy to make good any losses resulting from professional negligence or dishonesty by any of their employees. Over and above the underlying individual Professional indemnity cover, the ZSE has the umbrella liability policy which picks up excess losses.

Does the ZSE offer Data services?

Yes. Apply if you are interested.Does the market capitalisation for dual listed companies include the shares on the global registers?
The market capitalization of dual listed companies include shares that are in the local register only

The ZSE’s market Capitalisation calculations differ to mine? Why is this so?

The ZSE market capitalization can differ for the following reasons:

  • The ZSE uses the latest prices of securities. In the absence of a recent traded price, either the last traded price or an improved or deteriorated market indication is taken instead. So, if a security has not traded a bid higher or an offer lower, than the last traded price is taken otherwise the last traded price will be used. It is possible that other market participants do not use an improved or deteriorated market condition but stick to the last traded price always.
  • The ZSE updates shares in issue as and when they occur, so calculations may differ because of this.
  • For dually listed counters, the ZSE uses the number of shares on the local register whilst other participants could use the global number of shares.
  • The ZSE uses the number of shares that are freely exchangeable, while other market participants could use other classes of shares which are not freely tradable despite ranking pari-passu with the freely tradable shares.

How do get daily prices & corporate actions?

Subscribe to receive daily prices and corporate actions data.

From what date is the YTD % shown in the price sheet calculated?

The YTD% is calculated from 31 December of the previous year.

Why is the market Capitalisation for Old Mutual so low?

Only the shares that are resident on the Zimbabwe Old Mutual register are shown so the international value is a lot higher.

How do I access the daily price sheet?

The daily price sheet can be accessed daily and you can print it in PDF or download it. Alternatively you can register for the Daily Price Sheet Alert.

When ZSE Data is released every day?

Price data is released as soon as it is available which may be between 12 noon and 4pm in the afternoon and corporate actions are released any time from 4pm onwards. The hardcopy announcements of these releases appear in the traditional media in the following day.

Where the financial data in each company is page from and when is it updated?

The data is sourced from annual reports and updated prior to publication of the annual report through on the ZSE Data Portal.

Is the financial data from interim results published on the ZSE Data Portal?

Not currently. Only the annual results are published from the annual report or the abridged final results, the latter used if the information provided is complete. Efforts are underway to improve the level of disclosure in the interim and abridged results published.

What information is shown on the ZSE RSS feed?

All corporate action summary texts with links to the PDF of the underlying document. Sign up.

How can I get historical ZSE Price Sheets or other data not on the ZSE website?

Reports may be available for a small fee. For historical data requests please call +263 886 830-5 or send an email to data@zse.co.zw

Where does the ZSE source its financial figures from?

The abridged final or interim results and / or the annual report.

When are the figures uploaded on the ZSE Data Portal

The figures are loaded prior to the publication of the relevant report on the ZSE Data Portal but there may be exceptions. The ZSE accepts no responsibility where publication online in time may not be possible.

If the figures of the previous year are restated in the financial tables is the restated figure used or the historical figure?
The restated figure is used for the immediately preceding year. For the year before the immediately preceding year the figures from the annual report of that year is used.

If previously published figures are restated do you highlight this on the ZSE Data Portal?

Not currently.

Does your earnings per share figure include discontinued operations’ earnings?


Is your earnings per share shown as the fully diluted earnings per share or the basic earnings per share?

ZSE Data Portal use fully diluted earnings per share in its website. We do this because it’s considered a more conservative measure of a company’s profit than basic EPS.

Sometimes the figures in the press when the abridged final results are released have typing errors. Do you re-check the figures from the press release to the annual report when the annual report is released?

What are the market entrance requirements in Zimbabwe for foreign investors?

There is no requirement for registration with any institution before a stockbroker can commence trading for a foreign client. However, there might be identification document and other requirements to be met by the client as required by stockbrokers.

Are there foreign restrictions on repatriation of initial invested capital and dividends?

There are no restrictions on repatriation of capital and dividends.

The sub custodian must confirm proof of inward remittance prior to repatriating funds. Delays may occur if the position was transferred from another custodian or the original foreign exchange inflow was done through a third-party bank.

Are there any foreign ownership restrictions and what disclosures are required?

The limit for an individual foreign investor is 15% of total issued share capital whilst the aggregate limit per counter is 49%. Foreign investors may exceed these thresholds with prior approval from the Reserve Bank of Zimbabwe (RBZ) and the ZSE.

What instruments or products are traded on the ZSE?

Common stock, preferred stock and convertible debt instruments are currently traded on the ZSE.

Is short selling permitted?

Short selling is permitted but prior authority is sought from the ZSE.

What is the settlement cycle?

The settlement cycle is T+3.

What are the market /exchange trading hours?

The ZSE trading hours are as follows:

Market State

Time (Local time)

Pre-Opening Session 0900hrs to 1000hrs
Continuous Session 1000hrs to 1530hrs
Market Closes 1500hrs

Are margin trading and securities lending practised on the ZSE?

Margin trading and securities lending are not practised.

Can I get shareholder materials electronically and not by the post?

The ZSE’s data processing and dissemination systems are in a state of transition from a largely manual based process to one that will be electronic.

Through the ZSE Data Portal we expect grow a responsible and secure platform through which a purely electronic means of delivering and disseminating of corporate announcements and shareholder proxy voting material can be made. Legislation will need to be changed to permit this in future, but inculcating a culture of using electronic communication, in lines with best international practices early on, is the best way to enable rapid uptake when the legislative environment is accommodating. The benefits are lower costs, more efficient communication and more informed investment.

Shall I still rely on the newspapers to read corporate actions?

The requirements for listed companies to publish their earnings announcements in two prominent newspapers is unchanged, however publication in traditional hardcopy media must not precede online publication through the ZSE Data Portal so as an investor your access to information is now significantly improved.

What is a “special bargain” and how can I get information on special bargains?

A “special bargain” is a trade in shares that is outside the capacity of the market. These transactions are now recorded on the charts of each company in each company data section of our website.

Who regulates the capital markets in Zimbabwe?

The Securities Commission of Zimbabwe is the capital markets regulator.

Is the ZSE a registered or a self-regulatory organisation?

The ZSE is a Registered Exchange with the Securities Commission of Zimbabwe and in the efforts are underway to adopt a self-regulation structure.

What legislation affects Zimbabwe’s capital markets?

The following are various pieces of legislation which investors should be aware of as they affect securities markets (directly or indirectly) but are not administered by the commission:

  • Banking Act (Chapter 24:20)
  • Bank Use Promotion and Suppression of Money Laundering Act (Chapter 24:24)
  • Building Societies Act (Chapter 24:01)
  • Co-operative Societies Act (Chapter 24:05)
  • Collective Investments Schemes Act (Chapter 24: 19)
  • Companies Act (Chapter 24:03)
  • Export and Credit Reinsurance Act (Chapter 24:06)
  • Insurance Act (Chapter 24: 07)
  • Insurance and Pensions Commission Act ( Chapter 24: 21)
  • National Payment Systems Act (Chapter 24:23)
  • Pension and Provident Funds Act (Chapter 24: 09)
  • People’s Own Savings Bank Act ( Chapter 24:10)
  • Private Business Corporations Act (Chapter 24:11)
  • Small Enterprises Development Corporation Act (Chapter 24: 12)
  • Zimbabwe Development Bank Act (Chapter 24:13)
  • Zimbabwe Development Corporation Act (24:15)
  • Zimbabwe Stock Exchange Act( Chapter 24:18)
  • Asset Management Act (Chapter 24: 26)
  • Securities Act (Chapter 24:25)
  • Exchange Control Act (Chapter 22:05)
  • Reserve Bank of Zimbabwe Act (Chapter 22:15)
  • Capital Gains Tax Act (Chapter 23:01)

What are the regulator’s Powers of intervention?

The Securities Commission of Zimbabwe has powers to intervene in terms of misconduct financial difficulty or otherwise as long as it is in the best interests of investors and preserves the integrity of the capital markets. The rejection or termination of membership and delisting of securities is the primary role of the ZSE, subject to intervention by the Securities Commission of Zimbabwe.

Can Class action suits occur?

The Securities Act, through section 99, provides for the class actions.

How quickly and through what medium is price sensitive information distributed by the listed companies?

The listing requirements give guidelines on release of price sensitive information and this is usually distributed through a cautionary statement in at least two daily print circulating newspapers.

What are the requirements for issue of contract notes or their equivalent?

Market participants (brokers) are obliged to issue contract notes within 24 hours of executing a trade.

How does the ZSE deal with failed trades?

Failed trades are reported to the Exchange and appropriate action is taken based on the period for which the deal has been outstanding.

What are the time frames for reporting prescribed information for ZSE listed companies?

Every issuer is required to publish and distribute interim and annual financial statements within three months from the ‘period end’ date.

What social media accounts does the ZSE have and how can I access them?

The ZSE uses TwitterFacebook, and LinkedIn. Read our Social Media and Disclosure Policy.

I want to follow ZSE companies on Twitter. What are their hashtags?

Hashtags are used by the ZSE in disseminating information on Twitter. The short name code for each listed company excluding ‘.zw’ and preceded by the ‘#’ symbol will enable you to track individual companies e.g #NMB will enable you to track  updates related to NMBZ Holdings Limited.

How is the ZSE using Twitter, Facebook and Linkedin?

These social media channels are being used primarily as a tool to widely disseminate information that investors need to make informed investment decisions. These channels are also an ideal forum for the ZSE to connect with investors, hear their investment issues and respond where necessary. The ZSE’s interaction with the investment community is governed by our Social Media Engagement Policy.

IMPORTANT:  Twitter and our social media accounts should NOT be relied upon for timely or complete investor information from the Zimbabwe Stock Exchange.

Investors are strongly advised to visit www.zse.co.zw, research other sources of information and consult registered stockbrokers or licensed advisors before trading in publicly listed securities.

Our social media and disclosure policy is a good source of information on how we approach communications.

Do you have an RSS feed?

Yes, you may sign up to the RSS feed here.

How often is the Zimbabwe Old Mutual share register updated?

The local register for Old Mutual shares is updated as and when changes occur.

Can I attend analyst presentations and investor events?

As a policy the ZSE Data Portal does not advertise or disseminate the date of any investor events or analyst presentations of its listed companies. Typically these events are attended by company-invited analysts and not open to the general public and their event details are not communicated to the ZSE.  Announcements to which these events relate are published in the traditional press and ZSE Data Portal immediately prior to or following the event in accordance with the ZSE’s listing requirements.

Can I book an appointment with listed company executives?

As a policy the ZSE Data Portal is unable to assist investors wishing to seek audiences with the managements of ZSE listed companies. If you wish to request an audience with management you are advised to visit the investor relations website of the relevant company or contact the persons listed in the ZSE Data Portal company data pages.

Do you include “Assets classified as held-for-sale” in the calculation of the total current assets in your financial valuations?

Yes. This is because according to the IFRS 5 provision, when an asset is classified as ‘held-for-sale’, then its “sale is expected to be completed within 12 months of classification as ‘held for sale”. The expectation, therefore, is that the sale of the non-current asset will result in a current asset within 12 months from the reporting date.

Is there capital gains tax on the profits from the sale of listed shares?

Capital gains withholding tax on the sale of listed shares is 1% of the sale proceeds.

Are there market penalties and fines imposed on any breaches?

There are currently no fines or penalties imposed on any breaches.

How are listed securities identified, i.e. is each counter assigned an International Securities Identification Number (ISIN)?

Each security traded on the ZSE is identified by an ISIN code in addition to a short name code assigned by the ZSE.  The short name codes excluding ‘.zw’ and preceded by ‘#’ are also used as hashtags e.g #ASUN will represent African Sun Limited.

How do I become a member of the ZSE?

Members of the ZSE can have either individual or corporate status.

To become an individual member, one has to go through a rigorous training process within the industry, in addition to having a recognised degree in business related studies and having passed specified modules of the Registered Persons Examinations of the South African Institute of Financial Markets. The individual must also be at least 21 years of age and be ordinarily resident in Zimbabwe, in addition to owning assets in excess of his/ her liabilities by an amount stipulated in the members’ rules.

A corporate member should be a company incorporated in Zimbabwe with its sole object the business of stockbroking. It should have at least two individual members in its employ. Other requirements also exist with regard to issued share capital, Memorandum and Articles of Association as provided for in the members’ rules.

Can individuals become members of the ZSE?

Individuals can become members of the ZSE if they meet the specified requirements.

Who are the members of the ZSE?

A list of ZSE members is available.

What are the requirements to open a stock broking firm?

A stockbroking firm should have at least 2 members of the Exchange who are licensed by the Securities Commission of Zimbabwe. There is a prescribed guide on the scope and purpose of stockbroking firms. The Securities Act and Statutory Instrument 100 of 2010(S.I.100, 2010) provide more detailed guidance on the requirements.


What is happening with the de-mutualisation of the ZSE?

The process of either privatisation or demutualisation of the bourse is underway.

Are the ZSE members supervised and does the supervision extend to levels of capital requirements?

The ZSE members are supervised through the Exchange to ensure compliance with the members’ rules and all relevant statutory requirements. The Securities Commission is the overall regulatory body that enforces rules of the Exchange.


FACTS (View Only Terminal)

What are View Only Terminals?

View Only Terminals (“VOTs”) are in actual essence viewing rights to ZSE’s live trading on the Automated Trading System (“ATS”).

What is an ATS?

The ATS (“Automated Trading System”) is an electronic platform used by the ZSE for the purchase and sale of securities (shares, bonds, debentures and so on). The ATS replaced the manual trading system with effect from 6 July 2015.

How do VOTs work?

The ZSE will grant clients a username and password which will enable them to log in to the ATS and be able to “watch” trading during normal market hours.

What does a VOT client see when they log in?

The client will be able to view symbol and market statistics such as best bids/ask, volume, number of trades, high/low price, trade price, traded/cumulative volume, weighted average price, price change, trade value and indices. The Client has the flexibility to customise the screens and quantity of information they can view at any point in time.

What are the benefits VOTs?

The VOT enables the user to:
• make informed investment (buy/sell) decisions;
• get alerts on corporate actions (dividend record dates, cum and ex dates etc.);
• ascertain the direction of the market ahead of the public;
• quickly communicate with their stockbroker through the VOT messaging platform; and
• configure alerts on securities of interest (e.g. price or volume alerts).

Can VOT users trade directly on the ATS?

VOT users will still need to place their buy or sell orders through their stockbrokers. Future developments may allow certain classes of investors to have investor terminals which provide them access to the system for order placement purposes.

What are the requirements for clients to access VOTs?

Prospective clients are required to complete an application form (ZSE PSF 1) and submit it to the ZSE physically or electronically (by email to data@zse.co.zw). Each prospective client is entitled to a free trial period of 30 days after which they will need to pay the relevant VOT fees if they opt to subscribe for the full service.

Can clients access VOTs from anywhere?

The ZSE ATS system is internet based and can be accessed from anywhere in the world. For security reasons however the system is configured to limit access to static public IP addresses. Prospective clients can check their public IP addresses by visiting the following sites: http://whatismyipaddress.com/ or https://www.whatismyip.com/.

How does the ZSE differentiate between a Professional and a Non-professional user?

A non-professional user is normally a natural person not directly or indirectly involved in any capacity as, a securities trader, investment advisor or asset manager with any local or foreign financial exchange, regulatory authority, professional association or professional body recognised under any law; requiring access to the VOT to solely manage personal funds and such person should not be intending to use the VOT for any business or professional purposes (including distribution of data derived from the VOT to any third party).

A professional user on the other hand is any person or institution which includes the following:

a) a natural person, a company, a close corporation, a trust or an unincorporated entity which is registered or qualified as (or required to be registered or qualified as) a securities trader, investment advisor or asset manager with any local or foreign financial exchange, regulatory authority, professional association or professional body recognised under any law; or
b) a natural person working as employee, director, intern or contractor for a securities exchange, securities dealer, banking institution, investment advisor, asset management firm or any other investment related business; and
c) uses or likely to use data derived from the VOT for any business or professional purposes whatsoever.

What IT infrastructure do I need to access the VOT?

A normal desktop/laptop with standard operating software and reasonably fast internet connectivity will be sufficient. At a minimum the following IT requirements apply:

a) Network Requirements

  • Public IP Address (use http://whatismyipaddress.com/)
  • Internet Connection – A minimum of 1Mbps

b) Computer/Laptop Requirements

  • RAM – 2 GB or better
  • Internet Explorer Web Browser version 11 or better
  • Adobe Flash Player – Latest version

How user friendly is the VOT?

The ATS runs on the normal internet platform and can be used by anyone with basic understanding of how the stock exchange works. Prospective clients requiring training on VOTs can however approach the ZSE for training at a fee of $10/hour.

What are the VOT fees?

VOT data fees are specified in the ZSE Market Data Pricelist which is available on the ZSE website (www.zse.co.zw).

What is the trading schedule of the ZSE?

The market schedule for each business day is as follows:

Market State

Time (Local time)

Pre-Opening Session 0900hrs to 1000hrs
Continuous Session 1000hrs to 1500hrs
Market Closes 1500hrs


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