Securities and Exchange Commission claims investor numbers soar past one million

The Securities and Exchange Commission (SEC) has reportedly grown its investor base from just 40,000 to over one million, a surge largely driven by financial technology solutions that have made investing more accessible than ever.

SEC Manager for Market Development, Dingase Makumba, said the growth reflected the expanding role of capital markets in strengthening Zambia’s financial sector and creating wealth opportunities for individuals and institutions.

Speaking at the 97th Agricultural and Commercial Show in Lusaka in an interview, Makumba credited the rise to the SEC’s heightened market presence, public awareness campaigns, and the convenience of mobile investment apps.

“The availability of mobile apps has made it easier for people to invest directly from their phones, eliminating traditional barriers to market participation,” she said.

Awareness of capital markets’ role in wealth creation has also grown, encouraging more Zambians to explore investment opportunities.

Beyond investor growth, SEC is said to be fostering a supportive environment for raising capital, including frameworks for green finance.

Makumba cited the Copperbelt Energy Corporation’s US$200 million green bond issuance—only the second in Southern Africa—as a milestone in sustainable finance.

“This shows Zambia is making strides in sustainable finance,” she said, adding that SEC will continue promoting innovative products that align with investor interests and national development goals.

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