Analysis for a Secondary Stock Market to Cater for Small to Medium Businesses in Zimbabwe

Authors : Florance Shumba; Amos Mpofu

Volume/Issue : Volume 8 - 2023, Issue 10 - October

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This study premised on the problem that the small medium enterprises are lagging behind in listing and grappling with capital financing woes, undertook a critical analysis for the instituting of a Secondary Stock Exchange for small to medium businesses in Zimbabwe. Mixed methods were used to collect data through: questionnaires plus in-depth interviews from a sample of 67 participants drawn from Zimbabwe Stock Exchange stakeholders. These qualitative and quantitative methods produced descriptive statistics results.  Findings: The small to medium businesses failed to qualify for listing on the stock exchange due to the heavy regulations placed on prospective firms. The high minimum share equity level set by the ZSE is out of reach for many small medium businesses coupled with their distaste for offering part of their shareholding to the public. Recommendation: The fundamentals for establishing a secondary stock exchange: reducing the minimum listing share equity level, initiating training on raising capital through a stock exchange market and government guaranteed issuance of shares to public and potential investors of the Alternative Stock Exchange.

Keywords : Establishment, Secondary Markets, Alternate Stock Exchange, Small Medium Enterprises, Listing, Capital Financing; Share Equity, Shareholding.


Paper Submission Last Date
31 - December - 2023

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