The Financial Securities Exchange, a member of the Escrow Group a leading pan African fintech company, has been in discussions with the Harare Institute of Technology (HIT) to facilitate the integration of the practical securities trading and capital raising platforms that FINSEC offers with the academic theory that is taught at the institution. These discussions have culminated in a Memorandum of Understanding which the parties officially signed at HIT campus on Tuesday, 2nd of June 2020 at 10:00hrs.
The intention of the MoU is to develop and expand a framework of cooperation between HIT and FINSEC to develop mutually beneficial projects and activities aimed at raising public awareness of the availability of capital raising and securities exchange facilities for enterprises in Zimbabwe.
FINSEC believes in promoting the use of local solutions in addressing the needs of local enterprises; hence the drive to provide a learning hub for students from the institution and to facilitate the role of the capital market in the economic and social development of the country.
The Harare Institute of Technology (HIT) has proven to be a centre of excellence in providing practical solutions for our industry and commerce through practical application of academic theory. The union provides a structured framework to bridge the gap between what is taught in the classroom and what is happening in the capital market. This will ensure that our classrooms benefit from having access to practical securities issuance, trading and settlement while the market enjoys the advantage of latest trends in product development through the skills embedded in the students.
The benefits of a partnership between the two organisations with FINSEC include:
- Setting up, promoting and deploying educational material and facilities for local and diaspora retail investors, institutional investors and other capital markets participants interested in learning more about securities products and services;
- Exposing Harare Institute of Technology students and staff to practical securities issuance, listing, trading and settlement experience through the services provided by the FINSEC;
- Raising Public Awareness of the availability of capital raising and securities exchange facilities for Enterprises in Zimbabwe;
- Proffer research in the modern capital markets dynamics;
- To promote the use of local solutions in addressing the needs of local enterprises;
- Access to the unique specialist knowledge and know-how of FINSEC’s internal expertise
- World-class programmes combining academic rigour with real and practical relevance in today’s capital markets;
- Networking opportunities for students with market practitioners and industry experts
The partnership between the two institutions will play a critical role in setting up, promoting and deploying educational material and facilities for local and diaspora retail investors, institutional investors and the general capital markets interested in learning more about securities products and services through the services provided by FINSEC.
FINSEC has been offering attachment and job opportunities to a growing number of HIT students and we desire to extend our partnership to exposing Harare Institute of Technology students and staff to practical securities issuance, listing, and trading and settlement experience. The Harare Institute of Technology students played a key role in the pilot test that led to the introduction of C-TRADE.