Treasury urged to scrap capital gains tax after ZSE tops Africa with 68.5% gain
Parliamentary Watch
HARARE — Lawmakers have called on Treasury to abolish the 1% Capital Gains Tax on stock transactions to maintain momentum after the Zimbabwe Stock Exchange (ZSE) emerged as Africa’s top-performing equity market in US-dollar terms for the seven months to July 31, 2026.
Presenting macroeconomic analysis during the session, Parliamentary Portfolio Committee member Hon. Chiduwa noted that the ZSE recorded a 68.5% year-to-date return in USD terms, describing the rally as a strong signal of renewed market confidence.
“The performance of the stock market as the continent’s best performer in US-dollar terms reflects renewed investor confidence and a conducive policy environment,” Hon. Chiduwa said.
To consolidate gains and attract foreign portfolio inflows, Hon. Chiduwa urged Treasury to scrap the transaction levy and pursue inclusion in global benchmarks.
“We must address policy impediments, including the removal of the 1% Capital Gains Tax, so our bourse becomes competitive and qualifies for the Morgan Stanley Capital International (MSCI) Index,” he argued.
While the figures point to high returns for corporate and institutional investors, ordinary citizens and pensions invested in listed assets will watch whether these stock market gains translate into real-economy stability and inflation protection.
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