The Zimbabwe Stock Exchange (ZSE) is reportedly investigating possible routes for listing blockchain-backed products and utilizing blockchain technology in the workings of the exchange itself, although a lack of regulatory clarity is presenting a significant hurdle.

ZSE chief executive Justin Bgoni said the “money side” of blockchain technology was the factor making it difficult for them to move forward without clear regulation as it could create major issues for them as an exchange service. “But the technology side is very good,” he added.

Should clear regulatory guidelines be found, ZSE plans to add new blockchain-based products including mineral commodities exchange, exchange-traded funds (ETFs), and real estate investment securities. The technology would also be integrated into the system running the stock exchange.

Bgoni noted that the transparency of blockchain was one of the reasons it was so appealing in Zimbabwe:

“Each transaction, you can see who owns it so it is easy to audit it that is why people like it, is easy to verify it, it is transparent and takes away fraud, that part of the technology you can see everything and it makes sense.”

Bgoni’s comments came during an interview at the C-Trade investor conference day in Zimbabwe’s capital Harare last week.

The world’s second largest exchange by market capitalization, Nasdaq, already lists Bitcoin and Ethereum indices.


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