Chengetedzai Depository

Chengetedzai Depository Company Limited is a limited liability company incorporated in terms of the laws of Zimbabwe and was formed to establish and operate a central securities depository for the Zimbabwe securities industry. Chengetedzai won the right to establish the first Central Securities Depository (“CSD”) company in Zimbabwe on 27 December 2010 in a public tender from the Securities Commission of Zimbabwe. A CSD is a company that operates an electronic book entry system to record and maintain securities and to register their transfer. Securities are maintained in electronic form in the investor’s account just like how money is kept in the form of electronic credits in any bank account. In a CSD system, ownership will be changed as soon as securities move from one investor account to another. The system is purely a settlement vehicle for transactions that have been traded on a registered securities exchange.