SECZim, Securities Market Intermediaries on Nationwide Financial Literacy Programs

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The Securities and Exchange Commission of Zimbabwe in collaboration with Securities Market Intermediaries (SMIs) (licensed entities), including ZB Transfer Secretaries, Custodial and Trustee services, Alpha Asset Management, Datvest and Kreston Zimbabwe, conducted financial literacy and capital market awareness outreach in Masvingo, Zaka Central, North, and South from 13-14 March 2024. The programme is expected to result in a financially literate generation.

The gatherings took place at Rudhanda, Chinorumba and Chitonhora schools. Rudhanda High School in Zaka South attracted an impressive turnout of 500 enthusiastic participants from the following government high schools, namely Dzoro, Chimbwembwe, Dekeza, Musenjereki A and B, and Svivuri. The Rudhanda headmaster, Mr G. Chikweya represented Hon. C Chiduwa, MP for Zaka South, as the Guest of Honour, and delivered the formal remarks which included a welcome, the objectives of the outreach and the programme’s broad context of National Development Strategy (NDS) 1 and the National Financial Inclusion Strategy (NFIS) 2.

In Zaka Central, Chinorumba High School played host to another 500 eager participants, while Chitonhora High School in Zaka North saw a gathering of 200 enthusiastic students from Danda, Chivata, Chivingwi, Zivavose and Mutsambwa Government High Schools.

The Commission was honoured to have Mr Magama, the Chitonhora school Headmaster representing the District Schools Inspector at the Chitonhora High School in Zaka North, as the guest of honour. His insightful speech focused on the Capital Market Toolkit, a comprehensive resource reviewed by the Curriculum Development Unit (CDU) of the Ministry of Primary and Secondary Education (MoPSE), which will serve as valuable supplementary learning material in schools.

To promote listening, retention and engagement, entertaining activities, competitions and quizzes were conducted and prizes were awarded. Hosting schools were presented with the newly unveiled capital market education toolkit which enables schools to teach about capital markets more consistently and sustainably. Mini surveys were also conducted to gauge students’ knowledge of the capital market to generate much-needed data for the capital market awareness index.

SECZim left “no one and no place behind” in enlightening the participants about the intricacies of the capital market using an interactive format with relatable examples of income-generating activities in which the families of the pupils are already engaged and the potential for small businesses to scale up and be considered for future listings (issuers). Retail investment options were discussed alongside traditional investment options. SMIs shared insights about their Trustee Custodian and transfer Secretary businesses, providing a holistic understanding of the financial markets landscape.

Securities and Exchange Commission of Zimbabwe (SECZim), is a statutory body, established in terms of section 3 of the Securities and Exchange Act [Chapter 24:25], to regulate the capital markets and provide investor protection. The Commission’s main thrust is to encourage the development of a free, fair, efficient, transparent, and orderly capital market. The Commission reports directly to the Ministry of Finance and Economic Development. SECZim oversees over 200 capital markets intermediaries and collective investment schemes.