http://Cabinet approved the shareholding structure for the Zimbabwe Commodities Exchange (ZMX)

June 21, 2022

In a step towards operationalising the Zimbabwe Commodities Exchange Cabinet approved the shareholding structure for the Zimbabwe Commodities Exchange (ZMX) as follows: FINSEC 22.5%; TSL 22.5%; CBZ Bank 35% and Government represented by the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development 20%. ZMX will bring about an organised digital platform for participants to trade their commodities on the market with fair and transparent price discovery.

Launch of Zimbabwe's Commodities Exchange

Finance Minister launched #Zimbabwe’s Commodities exchange,(ZMX), which allows people to trade in at least 18 commodities, including options and futures contracts. ZMX will run a Warehouse Receipt System, allowing farmers or anyone to take their commodities to the ZMX warehouses and obtaining a recipt.

Commodities exchange pilot programme on cards

Pilot programme and awareness campaigns for the soon coming commodities exchange are already underway with efforts intensify its operations by March 2021. Commodities exchange expected to be launched in March 2021.

Launch of Agricultural Commodities Exchange

The Zimbabwean government launched the agricultural commodities exchange that will ensure farmers get market determined prices for their commodities. Zimbabwe previously had a commodity exchange which was closed when the government gave the monopoly to buy and sell maize and wheat to state grain procurer, the Grain Marketing Board (GMB) in 2001.

Zimbabwe plans to abandon fixing prices for commodities

Zimbabwe plans to stop fixing the prices of commodities and will set up a commodity exchange before the end of the year where market prices will prevail