Feb. 14, 2020
The Financial Securities Exchange Limited (Finsec), says there is significant progress made towards operationalising its Growth Enterprise Market (GEM) Portal for Small to Medium Enterprises (SMEs) with a draft framework now in place. The framework will also guide the disbursement of the $500 million venture capital fund, set aside by Treasury to capitalise SMEs who register for on-boarding on the portal. In an interview with Business Weekly, Finsec general manager Garikayi Munema, said the exchange was targeting this first quarter for implementation and operationalisation of the portal.
Launched last December, the GEM Portal is a dedicated online platform designed for SMEs in need of raising capital for retooling operations, increase productivity, or to increase their product range and or to expand into diversified markets. This caters for companies that cannot list on the primary exchange like the Zimbabwe Stock Exchange (ZSE) primary bourse.