The Financial Markets Indaba (FMI), in collaboration with the Capital Markets Association of Zimbabwe (CMAZ), recently convened the Annual Capital Markets Awards, a ceremony that has grown to become a defining fixture in Zimbabwe’s financial calendar. The event underscored the increasing sophistication and depth of the nation’s capital markets and served as a reflection of the region’s broader efforts to strengthen capital formation and market confidence across Africa’s emerging economies.
The 2025 edition recorded the highest participation since the Awards’ inception, attracting stakeholders across the financial ecosystem, including regulators, fund managers, listed entities, institutional investors, and capital market intermediaries. Their convergence demonstrated not only the depth of market participation but also a shared belief that resilient capital markets are essential to sustaining economic recovery and fostering inclusive development across Southern Africa.
The event was graced by Mr Samuel Matsekete, Group Chief Executive Officer of Old Mutual Zimbabwe, who attended as Guest of Honour. His keynote emphasised the strategic alignment of institutional investors towards sustainable growth and the necessity of deepening market integrity through responsible governance. Ms Ferida Matambo, Finance Director at the Securities and Exchange Commission of Zimbabwe, and Mr Justin Bgoni, Chairman of CMAZ and Chief Executive Officer of the Zimbabwe Stock Exchange (ZSE), offered analytical reflections on the dynamic interplay between innovation, policy evolution, and investor confidence. Their addresses collectively framed Zimbabwe’s capital markets as critical instruments for reindustrialisation and financial diversification in the face of global uncertainty.
A defining moment of the ceremony was the conferral of the Lifetime Achievement Award upon Mr Strive Masiyiwa, Founder and Executive Chairman of Econet Global and Cassava Technologies. The recognition celebrated his far-reaching contribution to transforming Africa’s digital and financial landscape. Masiyiwa’s entrepreneurial legacy symbolises the potential of African capital formation to drive continental connectivity, innovation, and socio-economic transformation through scalable technology and infrastructure investments.
The Awards’ credibility is underpinned by an independent, evidence-based evaluation process, which reflects international best practice. Each nominee is assessed against a comprehensive set of metrics, including performance, market leadership, innovation, corporate governance, sustainability, and regulatory compliance. This process ensures that award recipients embody both excellence and ethical leadership, reinforcing investor trust and market transparency. The rigor of this process situates the Awards within a broader global discourse around governance and the ethical dimensions of market development in emerging economies.
Beyond the ceremony, the Awards function as a strategic policy dialogue platform. Conversations among regulators, brokers, custodians, and institutional investors underscored the imperative of deepening liquidity and investor diversification. With capital inflows increasingly shaped by environmental, social, and governance (ESG) considerations, Zimbabwe’s financial markets are gradually repositioning towards sustainable investment frameworks that align with regional and international regulatory reforms. This evolution reflects a pragmatic recognition that resilient capital markets must balance return generation with social value creation.
Among this year’s honourees, Padenga Holdings Limited was named Best Performing Listed Company of the Year, marking a year of robust corporate governance and operational growth. Old Mutual Zimbabwe earned the Environmental, Social and Governance (ESG) Award, recognising its strategic incorporation of sustainability principles into capital allocation. Invesci Asset Management received dual honours as both Best Performing Asset Manager and Best Equities Fund Manager, highlighting its disciplined investment strategies, risk calibration, and research-led approach to portfolio management.
The Best Investment Research Provider accolade went to IH Securities, affirming the firm’s role in producing data-driven market insights essential for price discovery and risk management. CBZ Holdings Limited was awarded Best Investor Communication, reflecting the growing importance of transparency and consistent disclosure in attracting institutional investors. Imara Edwards Securities took home Best Stockbroker of the Year, consolidating its influence in capital intermediation and market liquidity enhancement.
The event’s commitment to diversity and thought leadership was evident in the Capital Markets Advocacy Awards. Tinashe Mukogo, founder of Money and Moves, and Coreen Madanha, Managing Director of InvestIQ Oak Wealth, were recognised for their advocacy in advancing financial literacy and inclusivity. Their recognition symbolised a generational shift towards a more inclusive capital market discourse that incorporates gender equity and youth participation in financial policymaking.
Media professionals were also acknowledged for their contribution to shaping financial narratives. Ray Ndlovu of Bloomberg was awarded Best Media Coverage, while Happiness Zengeni of Financial Express won Best Market Analysis, reflecting the critical role of rigorous journalism in enhancing transparency and investor education. The Outstanding Contribution to Investment Promotion Award went to Bard Santner Inc, recognising its pivotal role in promoting regional investment flows and public-private partnerships that strengthen Africa’s investment ecosystem.
Since its inception, the Capital Markets Awards has evolved into a benchmark for excellence, serving as both a barometer and catalyst for the transformation of Zimbabwe’s capital markets. More than a celebration, it functions as a reflection of structural reforms that continue to define the nation’s economic architecture. The Awards provide a platform for reinforcing corporate accountability while encouraging innovation and the expansion of financial inclusion.
In the wider African context, Zimbabwe’s experience offers a valuable case study in how domestic capital markets can contribute to economic resilience and regional integration. The narrative emerging from the Awards is not one of triumphalism but of measured progress—acknowledging that sustainable market growth requires consistent regulatory reform, disciplined monetary policy, and a culture of ethical stewardship.
The Financial Markets Indaba and CMAZ partnership embodies a Pan-African commitment to nurturing local capital markets that reflect African realities rather than external paradigms. Their work illustrates that financial architecture on the continent can be both globally competitive and authentically African in orientation, grounded in values of transparency, equity, and innovation.
Ultimately, the Annual Capital Markets Awards reaffirms a vision of finance that transcends profit metrics to embrace purpose-driven capital. As Zimbabwe continues to navigate complex economic transitions, its capital markets stand as a testament to the capacity of African institutions to build systems rooted in integrity, sustainability, and shared prosperity.
