ZMX launch date rescheduled for 30 April

The much awaited commodities exchange Zimbabwe Mercantile Exchange (ZMX) has changed its launch date from is 31 March 2021 to 30 April 2021 to allow for completion of final lawful approvals as well as enactment of relevant statutes.

Last month, FINSEC announced that ZMX would be launched on the 31st of March 2021 and that three banks willing to extend credit to farmers as more progress is made towards the launch of the exchange.

A recent update on progress made towards the operations of ZMX shows that custodian and settlement banks, farmers, warehouse receipt financiers, commodity off takers and end users, regulators, quality inspectors and warehouses among others have been prepared.

In a statement, FINSEC General Manager Garikayi Munema said the exchange’s partners are busy stepping up trainings, awareness and publicity campaigns ahead of the launch.

“The partners to the project that includes FINSEC, TSL Limited, CBZ Bank and the Government of Zimbabwe, together with developments partners FAO and World Bank are now stepping up trainings, awareness and publicity campaigns ahead of the launch,” he said.

In the meantime, preparations for the launch and operationalization of the exchange are continuing. These includes pilot ongoing projects as well as participating onboarding.

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