Tinotenda Hove – The Zimbabwe Stock Exchange (ZSE) has issued a strong warning to the investing public against a scammer, identified as Aaron Sibanda, who has been fraudulently posing as a ZSE agent and soliciting money from unsuspecting individuals.

According to the ZSE, Sibanda has been using mobile money platform Ecocash to lure people with promises of unrealistic investment returns. One of his misleading messages reads: “Can start up your investments account with $30 today. After 24 hours of investing, my friend, by tomorrow you’ll get your profit of $150 on your investments wallet and send to your Ecocash.”

In a statement dated August 18, 2025, ZSE Group CEO Justin Bgoni stressed that Sibanda has no association with the ZSE or the Victoria Falls Stock Exchange (VFEX).

“Aaron Sibanda is not in any way affiliated with the ZSE or VFEX. The ZSE does not engage in direct investment solicitations from the public,” said Bgoni.

He further cautioned investors to exercise due diligence before parting with their money. “We urge members of the public to only invest through ZSE-approved stockbrokers. A full list of licensed brokers is available on our website. It is important to seek financial advice from licensed stockbrokers and investment advisors before making any investment decisions,” he said.

The ZSE also made it clear that it would not be liable for any losses suffered by individuals who fall prey to Sibanda’s scheme. “Investing through Aaron Sibanda is done at your own risk. If you come across similar claims from other individuals, please report the matter to the ZSE or relevant law enforcement authorities immediately,” the statement read.

For further information or to verify the authenticity of anyone claiming to represent the ZSE, the public has been encouraged to contact the exchange directly via email at operations@zse.co.zw or info@zse.co.zw.