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Michael Tome Business Reporter

MORGAN & Co dominated the second edition of the Capital Market Awards 2022 hosted by the Business Weekly in partnership with the Financial Markets Indaba, an investment platform that connects capital providers, allocators and operators in Zimbabwe and across Africa.

The stockbroking firm scooped the Best Research Provider, Best Stockbroker Firm of The Year Award while its co-founder and stockbroker Mr Davide Muchengi walked away with the Best Individual Stockbroker of The Year Award.

Morgan & Co’s research unit led by Mr Batanai Matsika has been instrumental in driving the capital markets, hosting a series of webinars and other informative discussions to unpack the markets and all economic-related developments.

In the year, the firm launched two Exchange-Traded Funds (ETFs) Morgan & Co Multi-Sector (the first actively managed ETF in Zimbabwe) and the Cass Saddle ETFs.

The firm also launched indices for futures trading with FinSec and was the sponsoring broker for Turnall’s mandatory offer to minorities.

Simbisa Brands was nominated the Best Performing Listed Company while Econet Wireless Zimbabwe walked away with the Environmental Social Governance and the Best Investor Communication Award.

The awards sought to benchmark institutional achievements and performance in Zimbabwe’s financial markets and exchanges sector.

Represented by Securities and Exchange Commission of Zimbabwe (SecZim) head supervision and surveillance Mr Norman Maferefa, SecZim chief executive officer, Anymore Taruvinga said the main objective of the awards program was to recognise individual and institutional excellence in the discharge of capital markets duties. He further highlighted that capital markets remained vital in raising capital for companies and national development.

“We need to remind each other that as capital markets we have the capacity to contribute to national projects in the country such as infrastructure development. That’s where the capital markets come in as essential finance for the Government.”

“Let us continue to focus on development that contributes to the attainment of national goals such as the Vision 2030 and the National Development Strategy (NDS 1),” said Mr Taruvinga.

Business Weekly Editor Mr Hebert Zharare said he was optimistic that the capital markets would regain their impeccable performance having faced a rough patch in a considerable stretch of 2022.

“Notwithstanding challenges that our markets are faced with such as liquidity crunch that has left the market on a downward spiral with investors cashing out, you have proven before and again, you will emerge victorious.

“Nonetheless, being difficult as it may be, today we are gathered once again following our inaugural event last year, to celebrate the tremendous work you are doing towards wealth creation for companies and individuals and the nation at large,” he said.

Mr Bartholomew Mswaka who was rewarded with the Lifetime Achievement Award for his illustrious career in and contribution to Zimbabwe’s capital markets lauded the current crop of capital markets stewards for being inventive and broad, catering to the diverse needs of investors.

“The stock exchange is now diversified, those of us who were involved in traditional  stock exchange knew of equities, but we now have a diversified product base, as we speak tonight we have ETFs, very soon there will be REITS, these products are responding to the needs of the clients,” said Mr Mswaka

Giving his award ceremony speech, Bard Santner Markets executive director Dr Alfred Mthimkhulu emphasised the need to continuously nurture the local capital markets in order to attract more players to the platform.

“There are just a few thousand of us in our capital markets. As few as we are, a least 3 million Zimbabweans have entrusted us with their savings.

“We can double that figure because there are about 8 million adults in the country. We can double that again to get the number of eyes watching us. They are betting on us and saying: these guys will invest our savings in the best assets because they are competent because they are professionals; their bet is that the assets we pick will always be managed well and yield good returns,” said Dr Mthimukulu.

Old Mutual Investment Group won Best Performing Asset Manager Award, ABC Asset Management was chosen as the Best Equities Fund Manager while Equity Axis scooped the Capital Markets Media Coverage Award.

Financial Securities Exchange (FINSEC) secured the Best Technology Implementation in Capital Markets Award while Tendai Moyana bagged the Best Capital Markets Advocacy Award — People’s Choice.