Zimbabwe Stock Exchange (ZSE) and Getbucks Microfinance Bank Limited (GetBucks) have signed a Memorandum of Understanding that will result in the financing of Small and Medium Enterprises (SMEs).
The partnership between ZSE and GetBucks will entail the two parties working together towards operationalising the Zimbabwe Emerging Enterprise Market (“ZEEM”) according to ZSE Chief Executive Officer, Justin Bgoni
“The ZEEM product will be offered through an Over The Counter platform targeted at initially offering working capital solutions for formalised businesses, including Small to Medium Enterprises (“SMEs”),” Bgoni said.
“Over time, the ZSE will facilitate and assist small to medium size enterprises to list on the secondary bourse through training, workshops and other initiatives to educate SMEs on benefits of listing and meeting the requirements. GetBucks will play a critical role in terms of support.”
Besides the creation of ZEEM, the two organisations are also working together in establishing a receivables exchange, a precursor to the ZEEM project.
“This collaboration reinforces ZSE’s drive to foster the growth of the capital markets in Zimbabwe and resonates with our vision of facilitating Economic Development in Zimbabwe and Africa,” Bgoni said.
“The ZSE is looking forward to a fruitful partnership with GetBucks in ensuring the growth of SMEs under ZEEM.”
ZSE’s mandate is to facilitate long term capital raising through listing of securities as well as offering secondary market securities trading and issuer regulation services.
GetBucks is a South African registered lender, which also operates in Southern African countries including in Botswana and Namibia.
The lender which is also listed on ZSE offers personal as well as SMEs loans.