Nhowe High School tours SECZ
ALMOST everyone gets nervous and alienated at the prospect of being in a new area, but that was not the case with our Business Studies Class. When we arrived at SECZ premises in Newlands we received warm heartfelt welcome from the staff. The area surrounding the premises was all flowery and a breeze of fresh air could be felt from the dense foliage around. Who could remain tense in such ideal conditions?
We anticipated a terrifying, math-y, money-based conversation that would somehow make us feel small, poor and stupid but the presenting staff led by Tariro Musikavanhu, who is in charge of Investor Education and Awareness did a sterling job and gave flawless presentations.
The presenters were just lovely, helpful and used simple and comprehensive examples to explain complex and technical issues to educate us about how SECZ ended self regulation in the capital markets.
Indeed it was a day well spent at SECZ as we learnt about the statutory objectives of SECZ which include among others the promotion, development and regulation of capital markets through the formulation and implementation of appropriate rules and regulations, to guide capital market operations. SECZ ensures transparency in capital markets and prevents market manipulation, fraud and financial crime and also promotes market integrity and investor confidence. Investor protection and education are also at the core of SECZ activities.
The SECZ consists of five main departments which are: Corporate Finance & Market Development, Supervision & Surveillance, Legal, Finance & Administration and the ICT department, all which work together to ensure the well-functioning of the local capital market. The Legal department for example plays vital roles in the licensing of market players, development and enforcement of capital market laws in order to ensure high standards of market integrity. The legal team also acts as counsel to the Commission, keeps abreast with the global best practice in terms of relevant legislation and recommends review of legislation. Apart from the roles outlined above, the legal department also works in conjunction with the supervision and surveillance department in the enforcement of directives issued by the Supervision and Surveillance department which focuses on developing and implementing regulatory regimes aimed at curbing financial malpractices such as fraud, market manipulation and insider trading.
Indeed capital markets, just like the proverbial less travelled road, offer a lucrative career to one who dares to challenge the status quo. A confident, ambitious and intelligent person can take advantage of the wide range of career opportunities that are offered by capital markets and delve into the exciting world of exchanges, shares, bonds and complex derivatives.- The basic requirements are 5 ‘O’ level passes that include Maths and English and also 2 ‘A’ level passes. After the Advanced Level passes an individual would need a university degree and SECZ certification before being professionally qualified.
From the trip, it was apparent to us that the capital market is a vital part of the modern economy. Surprisingly, little academic effort is spenT on this driver of economic growth and development.
Knowledge is power! The capital markets should be included in school syllabi and all students should learn about capital markets from an early age. Such awareness will assist in instilling a culture of saving in the nation’s citizenry. Our day at SECZ was indeed, a day well spent!
Compiled by A. Murombo, T. Nyamupepema, S. Musoso (Upper 6, Business Studies Class, Nhowe High School, Macheke)
Please note for school educational tours at SECZ, kindly get in touch with SECZ on 04-776045 or through the website www.seczim.co.zw or email info@seczim.co.zw
◆ Students, YOU CAN SEND YOUR ARTICLES THROUGH E-MAIL, FACEBOOK, WHATSAPP or TEXT Just app Charles Mushinga on 0772936678 or send your articles, pictures, poetry, art . . . to Charles Mushinga at charles.mushinga@zimpapers.co.zw or mushingacharles@gmail.com or follow Charles Mushinga on Facebook or @charlesmushinga on Twitter. You can also post articles to The Sunday Mail Bridge, PO Box 396, Harare or call 0772936678.