HARARE – The Zimbabwe Stock Exchange (ZSE) has announced a significant increase in transaction thresholds on its online platform, ZSE Direct.
The move is in response to the impact of inflation and exchange rate volatility in the country. ZSE Direct is designed to make stock market trading more accessible to retail investors and increase their participation.
The new minimum transaction thresholds will come into effect from June 26, 2023. The minimum deposit has been raised to $5,000 from $500, while the minimum withdrawal has been increased to $10,000 from $1,000. The minimum trading amount has been adjusted to $5,000 from $500, and the custodial fee has risen to $2,000 from $200.
ZSE Direct was introduced in September 2020 to encourage retail investors to participate in the stock market and dispel the perception that capital markets are only for the elite. It has simplified the investment process for retail investors and contributed to financial literacy and inclusion. The platform offers real-time market data to help investors make informed trading decisions and charges low fees.
To use ZSE Direct, investors need to open an account, which can be done quickly and easily online. Once the account is active, investors can deposit funds and start trading shares. The ZSE has also implemented other initiatives, such as the ZSE Training Institute, to provide tailored capital market training and generate interest from retail investors.
Please note that the information provided is based on the given passage, and there may be additional details or developments regarding the ZSE and ZSE Direct that are not included here.
