By Simbarashe Muparaganda
Bulawayo, (New Ziana)- The Victoria Falls International Financial Centre (VFIFC) and the Securities and Exchange Commission of Zimbabwe (SECZim) have entered into an agreement to strengthen regulatory coordination and oversight, a move expected to support the country’s efforts to attract domestic and international investment.
Under the agreement, the VFIFC will draw on the expertise of the SECZim and existing infrastructure, as it seeks to attract new financial service businesses and investors.
The VFIFC is an independent statutory regulator and offshore financial services jurisdiction established under section 78B of the Banking Act and operationalized on March 31, 2026 (via Statutory Instrument 29 of 2025 and related frameworks).
Operating as a special economic zone (SEZ) in Masuwe, Victoria Falls, distinct from standard domestic commercial laws unless explicitly specified, the VFIFC positions Zimbabwe and Victoria Falls as a transparent, United States Dollar-based gateway and financial hub for Southern Africa, modeled after international centers like Dubai and Mauritius.
It aims to attract and manage US$10 billion in assets within five years, having already licensed around 70 participants across banking, securities, asset management, and FinTech.
Speaking at the signing of the agreement on the sidelines of the Financial Markets Stakeholder Summit on Wednesday, SECZim acting chief executive officer Tichaona Mushambadope said the partnership would help address regulatory overlaps as financial products and services evolve.
“I am very proud to be here, alongside the leadership of the government, as we establish the International Financial Services Centre. This is part of the country’s broader ambition to position Zimbabwe as an attractive destination for domestic and international investment,” he said.
He said the centre’s ambitions would depend on a trusted operating environment, supported by credible regulation, institutional coordination, investor confidence and effective risk management.
“As capital markets continue to evolve, new investment products, digital financial services, digital assets and cross-border activities are changing how capital is raised, invested and traded. These developments present significant opportunities for Zimbabwe, but they also bring new regulatory and supervisory considerations,” he said.
Mushambadope said the agreement would provide a framework for the two institutions to address areas where their responsibilities meet, share expertise and improve oversight across both the domestic market and the VFIFC.
He described stronger cooperation as a way to reduce regulatory arbitrage, the risk that businesses could exploit differences or gaps between regulatory frameworks.
The agreement also responds to questions from market participants about the way the SECZim and the VFIFC would work together, Mushambadope said, adding that the relationship would develop over time, with the institutions refining their coordination as they gain experience.
Zimbabwe Stock Exchange (ZSE) Group chief executive officer Justin Bgoni said the arrangement would allow the VFIFC to use SECZim’s existing supervisory infrastructure and expertise, rather than build parallel systems from the ground up.
“That frees the centre to put its effort into growing the market and going out there to get new types of licences, knowing that in terms of supervision it can lean on the expertise and infrastructure of SECZim,” he said.
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