All companies listed on the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX) will now be required to submit Environmental, Social and Governance (ESG) and sustainability reports starting from the 2024 financial year, the government has announced.
Finance, Economic Development and Investment Promotion Deputy Minister Kudakwashe Mnangagwa made the announcement while addressing delegates at the Global ESG Reporting Workshop held in Harare last week.
“In line with Statutory Instrument 134 of 2019 and further guidance provided under ZSE Practice Note 16 and VFEX Practice Note 2, all listed companies are now mandated to submit ESG and sustainability reports for financial years beginning on or after the 1st of January 2024,” Mnangagwa said.
The move is part of a wider push by the government to institutionalise transparency, accountability and sustainable development practices across both the public and private sectors, in line with the National Development Strategy 1 (NDS1) and Vision 2030.
“This workshop is not merely a dialogue. It is a call to action. If we are to grow the manufacturing and mining sectors — which are now among the biggest contributors to GDP — ESG compliance is no longer a choice. It is a necessity,” Mnangagwa told participants.
He noted that Zimbabwe’s economic structure was evolving, with manufacturing now accounting for 15.3% of GDP, mining 14.5% and financial services 10.8%, signaling a shift towards industrialisation and financial sector expansion.
Mnangagwa also revealed that the country’s gross domestic product had been revised upwards to US$44.5 billion from US$35.2 billion, following a national economic census by ZimStat that captured a broader scope of formal and informal sector activity.
On climate action, the deputy minister acknowledged national efforts such as the National Climate Change Response Strategy (2014) and the National Climate Policy (2017), but urged developed nations to honour their financial and emissions obligations under the Paris Agreement.
He applauded the Securities and Exchange Commission of Zimbabwe (SECZIM) for playing a proactive role in curbing corporate greenwashing and ensuring accurate ESG disclosures.
“SECZIM is making sure listed companies meet disclosure requirements and provide accurate data on carbon emissions, climate risk and other sustainability metrics,” he said.
Mnangagwa further stressed the importance of building institutional capacity to implement ESG principles, rather than treating compliance as a box-ticking exercise.
“We must ask whether we have the right skills for this transformation, not just to report but to implement ESG practices in full. That is where the real work begins,” he said.
He concluded by reaffirming the Ministry of Finance’s leadership in advancing ESG adoption and called for a “practical, implementable ESG framework that works for Zimbabwe.”
