Chengetedzai Depository Company Limited
Chengetedzai Depository Company Ltd is incorporated in 2010 in response to a public tender by the Securities & Exchange Commission of Zimbabwe to implement a Central Securities Depository. In 2013 Chengetedzai selected the DEPO/X system from CMA for automation of registry, clearing and settlement operations. The system went live in 2014.
The implementation of the system leads to a major paradigm shift of the Zimbabwean depository process: the dematerialization of securities holdings, the introduction of efficiencies, and reduction in counterparty risks, moving away from a settlement cycle of T+7 to T+3, implementation of custodian centric model, reduction of transaction costs.