HARARE – The Securities and Exchanges Commission of Zimbabwe has licenced a new stockbroking firm, Morgan & Co, which is made up of British investors and two local partners, Davide Muchengi and Lungani Nyamazana.
The firm will be fully operational in August this year.
“A group of highly experienced international investors has entered into partnership with Zimbabwean financiers to form Morgan & Co, a new securities firm located in Harare. Morgan & Co has been licensed by SECZ and admitted onto the Financial Securities Exchange (FINSEC) as the first steps in its plan to help grow the Zimbabwe capital markets.
“Morgan & Co, whose motto is “Our word is our bond”, will bring access to international capital and skills, operating with local partners who share our vision of quality, innovation and integrity,” said the company in a statement.
The company said the consortium’s international shareholder base, its expertise, experience and access to capital underpin its plans to build an unrivalled local investment research capability.
“This is a key element in our planned expansion of Zimbabwe’s capital markets, particularly with market making, bond and fixed interest instrument trading and capital raising. Morgan & Co intends to commence trading in August.”
The consortium is led by Nigel Little who headed multinationals such as Morgan Stanley, Nomura International, West Deutsche Panmure, Morgan Stanley and HSBC among other top investment companies.
He was also a managing director and head of equities for Canaccord Capital (Europe) Limited.
The local partners who have over 10 years of stocking broking experience will help capital markets to bring investment in Zimbabwe.