HARARE – The Zimbabwe Stock Exchange (ZSE) and TN Asset Management (TNAM) have signed a strategic partnership aimed at accelerating access to capital for high-growth small and medium-sized enterprises (SMEs) through the Zimbabwe Entrepreneurship Exchange (ZEEX), marking another significant step towards broadening Zimbabwe’s capital markets.
In a joint press announcement issued on 30 June, the two institutions said they had signed a Memorandum of Understanding (MoU) to jointly identify, develop and co-finance high-potential startups and SMEs capable of listing on ZEEX, a newly approved digital capital market platform designed to improve financial inclusion and support enterprise growth.
The collaboration forms part of the ZSE’s broader efforts to operationalise ZEEX, which is expected to provide an alternative fundraising platform for emerging businesses while expanding investment opportunities within Zimbabwe’s financial markets.
According to the joint statement, the partnership seeks to create a structured financing ecosystem that prepares businesses for public capital markets rather than merely facilitating fundraising.
“Through the signing of a Memorandum of Understanding (MoU), ZSE and TNAM will work together to identify, develop, and co-finance high-growth startups and SMEs that have the potential to list on ZEEX,” the joint statement said.
It added that TN Asset Management’s expertise in investment management and enterprise development would be instrumental in building a pipeline of “quality, investor-ready businesses that inspire confidence in the platform.”
Under the agreement, ZSE and TNAM will collaborate across five strategic areas designed to strengthen Zimbabwe’s SME financing landscape.
These include identifying, screening and prioritising high-potential businesses suitable for ZEEX listing; developing blended finance and co-financing structures for growth enterprises; delivering capacity-building programmes focusing on corporate governance, financial reporting and investor readiness; jointly hosting investor forums and SME financing conferences; and developing innovative financing instruments such as SME bond programmes, growth capital structures, and green or sustainability-linked financial products.
The initiatives are expected to improve the quality of businesses entering Zimbabwe’s capital markets while increasing investor confidence in emerging enterprises.
ZSE Holdings Group Chief Executive Officer Justin Bgoni said the success of ZEEX would depend largely on the quality of businesses that eventually list on the platform.
“The quality of businesses that list on ZEEX will define the platform’s long-term credibility. Our partnership with TNAM addresses this directly by building a disciplined, rigorous pipeline of investment-ready enterprises before they reach the public market. This is not simply about access to capital; it is about building the kind of structured, well-governed SME ecosystem that attracts sustained institutional interest and drives durable economic growth in Zimbabwe.”
His remarks underscore the exchange’s intention to position ZEEX as more than a fundraising mechanism, but as an institutional framework capable of producing governance-ready enterprises attractive to long-term investors.
TN Asset Management Chief Executive Officer Ronald Makeleni described the alliance as an important step towards creating practical investment pathways for Zimbabwe’s growing businesses.
“This alliance aligns with TNAM’s commitment to creating practical investment pathways for growth-oriented enterprises. ZEEX provides an important platform for bringing credible SMEs closer to formal capital markets, while TNAM brings disciplined screening, structuring and investment management expertise to help prepare businesses that can attract long-term investor confidence. We believe this collaboration can unlock new funding channels for well-governed SMEs and support sustainable economic growth in Zimbabwe.”
Makeleni said combining TNAM’s investment expertise with ZEEX’s capital market infrastructure would help bridge the financing gap facing many promising Zimbabwean businesses.
The partnership comes as Zimbabwe seeks to deepen its domestic capital markets by providing alternative financing channels beyond conventional bank lending.
According to the joint statement, ZEEX is a newly approved digital capital-market platform that will facilitate primary-market fundraising, asset tokenisation and secondary-market trading within a regulated environment.
The exchange is designed to improve economic formalisation, widen investor participation and provide SMEs with a lower-cost, compliant avenue for raising capital.
The ZSE said it continues to finalise the compliance and operational frameworks required for the formal launch of ZEEX and will update the market once the platform is ready for commencement.
Industry observers view the partnership between ZSE and TN Asset Management as an important milestone in developing a more structured venture finance ecosystem capable of supporting Zimbabwe’s innovation economy, while strengthening the country’s broader capital market infrastructure.
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