The Capital Markets Awards is a landmark recognition programme designed to benchmark institutional achievements and performance within Zimbabwe’s financial sector, specifically focusing on the markets and exchanges landscape.
This prestigious annual awards programme has become an integral event for celebrating excellence within the industry, and it has a unique role in setting the standards for best practices within the capital markets. By recognising institutions and individuals that demonstrate superior business strategies grounded in strong fundamentals, the awards not only highlight exceptional performance but also serve as a learning platform for market participants.
Goals and objectives
The primary goal of the Capital Markets Awards is to recognise and celebrate the outstanding contributions of institutions and individuals who have excelled in the capital markets. These awards serve several key objectives:
- Benchmarking Excellence: The awards aim to establish a benchmark for excellence within the capital markets by recognising institutions that have demonstrated superior business strategies and operational efficiencies.
- This objective is crucial as it creates a standard against which all participants in the market can measure their performance. By establishing clear benchmarks, the awards promote continuous improvement and encourage market participants to strive for higher levels of achievement.
- Benchmarking also helps in identifying emerging trends and best practices within the industry. Institutions that are recognised set a precedent that others can follow, leading to the overall enhancement of market structures and operational processes.
- By focusing on institutions with strong fundamentals, the awards ensure that the recognised achievements are sustainable and not just short-term successes. This long-term perspective is vital for the stability and growth of the financial sector.
- Highlighting Best Practices: The programme seeks to spotlight emerging best practices in establishing robust market structures, which can serve as models for other institutions.
- Best practices refer to methods or techniques that have consistently shown superior results compared to other approaches. By highlighting these, the awards help in disseminating knowledge and strategies that can lead to better outcomes across the market.
- The recognition of best practices encourages innovation and creativity within the industry. Market participants are motivated to explore new ideas and approaches that can lead to improved efficiency and effectiveness.
- Identifying and sharing best practices also helps in addressing common challenges faced by market participants. When institutions adopt these practices, they contribute to the overall resilience and sustainability of the capital markets.
- Identifying Challenges: The awards also identify challenges in executing sound operational processes, providing a platform for market participants to learn from each other's experiences.
- Recognising challenges is as important as celebrating successes. By acknowledging the difficulties faced by market participants, the awards foster a culture of continuous learning and improvement.
- The identification of challenges enables the industry to address systemic issues that may hinder growth and development. It also helps in the formulation of strategies to overcome these obstacles.
- Addressing challenges through shared knowledge and experience can lead to the development of more resilient market structures. This collective approach ensures that the entire industry benefits from the insights gained by individual participants.
Uniqueness of the awards
The Capital Markets Awards are unique in their scope and execution. Unlike other awards that may focus on a specific segment of the market, these awards recognise achievements across all the main segments of the capital markets. This inclusivity ensures that the awards truly reflect the opinions and experiences of the entire market.
Market Participant Polling: One of the distinguishing features of the Capital Markets Awards is the method by which winners are determined—through a poll of market participants.
- Polling market participants ensure that the awards are a reflection of the collective judgment of the industry. This democratic approach enhances the credibility and relevance of the awards.
- The polling method also ensures that the awards are dynamic and responsive to the evolving needs and priorities of the market. As participants’ opinions shift, so too can the focus and criteria of the awards, ensuring they remain relevant.
- By involving a broad spectrum of market participants, the awards gain a comprehensive view of the market’s performance. This holistic perspective is essential for accurately identifying the most impressive performers.
Methodology: The methodology behind the Capital Markets Awards is designed to be fair, objective, and consistent. The process involves several stages, each meticulously crafted to ensure that the most deserving institutions and individuals are recognised.
Nomination and Submission: The process begins with nominations, where The Financial Markets Indaba team identifies potential nominees through rigorous research. External nominations are also encouraged, allowing a diverse range of market participants to put forward their candidates.
The open nomination process ensures inclusivity and broad participation, which is vital for capturing a wide array of talent and achievement across the market.
- Encouraging external nominations allows the awards to benefit from different perspectives, including those of clients, peers, and other stakeholders who may have valuable insights into the nominees’ performance.
- Allowing companies to submit their own achievements ensures that nominees have the opportunity to present a comprehensive picture of their accomplishments, leading to a more informed evaluation process.
Shortlisting: Once nominations are received, nominees are formally requested to accept their nomination. Those who accept are invited to submit additional supporting information to strengthen their case.
- The shortlisting process is crucial for narrowing down the pool of nominees to those who are most deserving. It ensures that only the most qualified candidates move forward in the evaluation process.
- Requesting additional information allows the nominees to provide evidence of their achievements, which is essential for a thorough and accurate assessment by the judges.
- The formal acceptance of nominations adds a layer of commitment from the nominees, ensuring that only those who are genuinely interested in participating in the awards process are considered.
Judging Panels: An independent judging panel, comprising of experts in the field of capital markets, is responsible for scoring each nominee. These experts bring a wealth of knowledge and experience, allowing them to assess nominees objectively.
- The independence of the judging panel is crucial for maintaining the integrity and impartiality of the awards. It ensures that decisions are based solely on merit and not influenced by external factors.
- The expertise of the judges ensures that the evaluation process is informed by deep industry knowledge. This expertise is essential for accurately assessing the complex and nuanced achievements of the nominees.
- The objective assessment by the judging panel adds credibility to the awards, as market participants can trust that the winners have been selected through a rigorous and fair process.
Scoring and Ranking: Judges score each nominee based on the established criteria, using a numeric scale. These scores are then used to rank the nominees.
- The use of a numeric scale provides a quantifiable and transparent basis for comparing nominees. This scoring system ensures consistency and objectivity in the evaluation process.
- Ranking the nominees based on their scores allows for a clear and straightforward determination of the winners. It ensures that those with the highest achievements are recognised.
- The scoring process also allows for the identification of close contenders, providing valuable insights into the competitive landscape of the market.
Award Categories
- Best Performing Listed Company of the Year
This award recognises a listed company that has demonstrated exceptional performance and growth prospects. The winner will be a responsible, accountable, and dynamic business with a long-term vision and a strong commitment to environmental, social, and governance (ESG) principles.
- Environmental, Social and Governance (ESG) Award
This award recognises a company that excels in implementing and integrating ESG principles into its business operations. The winner will demonstrate a proactive approach to governance, environmental stewardship, and social responsibility, going beyond mere compliance to genuinely embed these values into its business strategy.
- Best Performing Asset Manager
This award recognises outstanding achievement in asset management, highlighting firms and professionals who have excelled in managing institutional and retail assets. The winner will have demonstrated excellence in performance, innovation and client service.
- Best Equities Fund Manager
This award recognises the fund manager with exceptional skills in stock selection and portfolio management. The winner will have demonstrated a strong track record of identifying high-performing stocks and achieving superior returns for investors.
- Best Investment Research Provider
This award recognises a company that has made a significant contribution to the capital markets through exceptional investment research. The winner will have demonstrated a commitment to delivering high-quality, insightful research that supports investor decision-making and enhances market transparency.
- Best Investor Communication Award
This award recognises excellence in shareholder and investor communication. The winning company will have demonstrated a commitment to maintaining open, honest, and transparent communication with its investors, effectively engaging with them through various channels.
- Best Stockbroker of the Year — Individual
This award recognises an individual stockbroker who has demonstrated exceptional skill, deep market understanding, and outstanding client service. The evaluation focuses on professional progression, performance, and the individual's contribution to the broader investment sector.
- Best Stockbroker of the Year
This award recognises a stockbroking firm that has excelled in trade execution, customer service, and innovation. The evaluation considers the firm’s overall contribution to the capital markets and its ability to adapt to changing market conditions.
- Lifetime Achievement Award
The Lifetime Achievement Award honours individuals who have made significant contributions to the capital markets and exchanges landscape in Zimbabwe. This award recognises a lifetime of service, leadership, and impact within the financial sector.
- Capital Markets Advocacy Award - People’s Choice
The Capital Markets Advocacy Award — People’s Choice is a prestigious recognition that honours those who have gone above and beyond in advocating for the growth and development of Zimbabwe’s capital markets. The award not only acknowledges the achievements of the winners but also serves to inspire others in the industry to contribute to the ongoing advancement and integrity of the capital markets. The nominee’s work in raising awareness, influencing policy, promoting investor education, or otherwise contributing to the development of the capital markets is critical to this award. Through this award, we celebrate the vital role that advocacy plays in shaping a vibrant, inclusive, and dynamic financial sector.
Conclusion
The Capital Markets Awards programme is a comprehensive and rigorous process designed to celebrate excellence within Zimbabwe’s financial sector. From the deliberation process to the final selection and announcement, each stage is meticulously planned to ensure that the most deserving recipients are recognised. The awards not only honour individual and institutional achievements, but also contribute to the overall advancement of the capital markets by setting benchmarks and encouraging best practices. Through this programme, the Capital Markets Awards play a pivotal role in shaping the future of the financial industry in Zimbabwe.
Background
- Financial Markets Indaba (FMI) is a global award-winning investment conferencing platform and has over the past eight years facilitated successful investment roadshows in different countries on behalf of several governments and corporate clients. FMI has the aim of mobilising investment through convening leading global institutional investors, corporate leaders, industry experts, diaspora and our team of analysts to explore sector and market trends and identify significant investment opportunities. Through thought leadership, productive exchange of ideas and sharing practices, the conference delegates and participants discuss how to integrate and align regulatory framework with new strategies, business models, financial measures, and investment decisions. Financial Markets Indaba is a unit of Emergent Capital Management (ECM)
l CMAZ
The Zimbabwe Stock Exchange Limited (ZSE) in collaboration with other market participants, collaborated to establish the Capital Markets Association of Zimbabwe (CMAZ). The Association serves as a collective voice for participants in the capital market, including investment banks, brokerages, exchanges, asset managers, depositories and other securities market intermediaries. The Association’s key objectives will be to advocate for the interests of its members, promote best practices, and engage with regulators and policymakers.
Objectives of CMAZ
The objectives of the association include:
- To serve as a collective voice for participants in the capital market, including investment banks, brokerages, exchanges, asset managers, depositories and other securities market intermediaries.
- To advocate for the interests of its members, promote best practices and engage with regulators and policymakers.
- To aid in the development of our capital markets and promotion of financial inclusion and literacy through the introduction of new products and services
- CMAZ is dedicated to promoting, representing, and defending the common interests of its members. By fostering a sense of collective responsibility, they aim to strengthen the capital market ecosystem to benefit all participants.
- To promote capacity building and training for members.
- Contact: Patrick Muzondo, Managing Director
- Financial Markets Indaba
- Mobile: +44 7403 028 532