The Securities and Exchange Commission of Zambia

Regulating & Developing the Capital Markets

The Securities and Exchange Commission of Zambia is the national regulator committed to fostering a transparent, fair, and resilient capital market. We safeguard investors, support market integrity, and drive sustainable economic development through innovation, supervision, and strategic partnerships.

Latest Bond Market Overview

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Established in 1993

Securities Act CAP 354

Role

Supervision, and ongoing development of the Zambian capital markets to ensure transparency, efficiency, investor protection, and alignment

Responsibility

Licensing, registration and authorization for financial intermediaries, issuers of debt and equity instruments and collective investment schemes.

The Securities and Exchange Commission (SEC) is the regulator of the Capital Markets in Zambia. It was established through an Act of Parliament, the Securities Act no. 41 of 2016. Our role as regulator is important for ensuring

Equity Market

Market Cap: USD 12.4 billion
LASI: 20, 575.76 points
Total number of investor equity: 68,492

Investment Schemes

AUM: USD 137.5 million
Total number of Investors CIS: 1,177,760

GRZ Bonds

Market Cap: USD 7.7 million

Corporate Bonds

Market Cap: USD 230.5 million
Green Bond: USD 150.2 million

GRZ Bonds Secondary Market

Latest Trade Summary

No. of Trades by Tenor

Primary Market Auction

Tenor Cut- Off Yield RateCoupon Rates Range of Successful Yield Rates
2 Years 15.5015.5014.0000-15.5000
3 Years 16.5016.507.0000-16.5000
5 Years 18.0018.006.0000-18.0000
7 Years 18.4918.4914.0000-18.4900
10 Years 19.0019.001.0000-19.0000
15 Years 20.2020.2010.0000-202000

News & Regulatory Updates

Pursuant to Section 218 (2) of the Securities Act, No. 41 of 2016 (as amended by Act No. 21 of 2022) (“Act”), the Securities and Exchange Commission (the “Commission”) had, on 12th June 2025, imposed

March 30th, 2023 — The Securities and Exchange Commission of Zambia (SEC) is pleased to announce its admission to the Sustainable Banking and Finance Network as its newest member.

The Securities and Exchange Commission (“SEC or the Commission”) and the Financial Intelligence Centre (FIC or Centre) have become aware of an article circulating on various online and social media platforms regarding a scheme called

The Securities and Exchange Commission (“SEC”) issued the Regulatory Sandbox Framework for Capital Markets (“Sandbox”) on 18% December 2022. The Sandbox is a Regulatory framework under which firms can test trial capital markets innovations such
The Securities and Exchange Commission (SEC) is pleased to announce the signing of a Memorandum of Understanding (MoU) with the Prudential Authority (PA) of South Africa. This landmark agreement was signed by SEC and PA
Program for Recognition of CMAZ As A Self-Regulatory Organisation (SRO): An In-Depth Detailed Media Briefing on the Initiative, Its Implications, and Its Potential Impact on the Industry
Be a professional by completing the licensing programme in Zambia

The Securities and Exchange Commission (“the Commission”) has identified a purported investment scheme operating under the name “Velmont Gold Mining company” (Velmont). The scheme is actively promoted on social media platforms like Facebook and WhatsApp,

The Commission issued Request for Proposals (RFP) for eligible Insurance firms through a competitive tender process. Following the Procurement Committee resolution and pursuant to Section 53 (1) and (2) of the Public Procurement Act 2008,

The Securities and Exchange Commission (SEC) is one of the three financial sector regulators in Zambia with a core objective of regulating the capital markets sub-sector. The SEC is a statutory body established under the

The Securities and Exchange Commission (the “Commission”) is a statutory body established under the Securities Act, Cap. 354 of the Laws of Zambia (repealed) and whose existence is continued under the Securities Act, No. 41

The Securities and Exchange Commission (the “Commission”) has identified a purported investment scheme operating under the name “Vertex Pulse Edge”. Vertex Pulse operates and/or promotes the operation of its fraudulent business activities, through an online

The Securities and Exchange Commission (“the Commission”) has identified a purported investmentscheme operating under the name “Core Various.” The scheme is actively promoted on social mediaplatforms like Facebook and WhatsApp, claiming to offer investors returns

The Securities and Exchange Commission (“the Commission”) wishes to alert the public to a suspected Ponzi scheme operating under the name Performance Marketing Group (PMG). PMG claims to be an advertising agency affiliated with a

The Securities and Exchange Commission (“the Commission”) has identified a purported investmentscheme operating under the name “Auteri Jewellery Company Ltd.” The scheme is actively promotedon social media platforms like Facebook, TikTok and YouTube, claiming to

Publications & Reports

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