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Footprint & Milestones

We have operations and partnerships in East and Southern Africa and we are currently making progressive inroads into West Africa. It is our desire to take an active part in the growth and transformation of business in Africa and we aim to take solutions from Africa to the world.



We have worked across many African countries including Botswana, Kenya, Malawi, Nigeria, Rwanda, Tanzania, Uganda, Zambia, Zimbabwe and Eswatini

  1. Launched Financial Securities Exchange (FINSEC) a wholly owned subsidiary of Escrow Group, that was licensed to operate Zimbabwe’s second stock exchange and the country’s first Alternative Trading Platform. The entire trading, settlement, surveillance and reporting technology was developed and is supported by Escrow Systems. 
  2. In Zimbabwe Escrow Group runs Corpserve Registrars, the country’s largest Share Transfer Secretary with more than 40% market share and offering a range of innovative services including online share enquiries and Android Apps for retails investors.
  3. Escrow Systems was accredited by the Zimbabwe Association of Microfinance Institutions as a recommended provider of Credit Management Systems to the industry. A growing number of Microfinance institutions now use Escrow Systems technology for their entire lending services. 
  4. Escrow Systems provided the technology and manages full automation of the trading and settlement of securities on both the ZSE and FINSEC through the use of every day mobile gadgets and internet connected investors. 
  5. The Reserve Bank of Zimbabwe is spearheading the National Financial Inclusion Strategy which seeks to ensure the effective use of a wide range of quality, affordable and accessible financial services provided in a fair and transparent manner through formal and regulated entities. Escrow Systems is an active member of the Education and Awareness Committee, the Small and Medium Enterprises Committee and chairs the Digital Financial Services Committee. 
  1. Escrow Systems provided the technical solution to the Government of Kenya working with CDSC Kenya; Central Bank of Kenya; Nairobi Securities Exchange and Mobile Network Operators in the mobile traded retail bond, dubbed M-Akiba. This retail bond, the first of its kind in the world was a resounding success and the Escrow technology was a key factor. 
  2. Escrow supplied the Initial Public Offer System which was used in the self-listing of the Nairobi Stock Exchange (NSE) which enabled NSE to list on its own Exchange and raise capital for further expansion.
  3. Our systems have been deployed to a number of leading Share Registry firms in Kenya who collectively manage more that 50% of the companies listed on the Nairobi Stock Exchange. These systems are responsible for the share register management, IPO’s, dividends processing and reconciliations and several other corporate actions.
  1. Escrow Systems having been contracted by Eswathini Stock Exchange, automated the entire Kingdom of  Eswathini capital market by providing the Automated Trading System connecting all capital market participants and integrating directly with the Central Depository System at Eswathini Central Bank. Although our solution came complete with a closely-coupled CSD, Eswathini Stock Exchange requested us to integrate with the one already installed at their Central Bank since it had excess capacity. We also provided a Surveillance module to give the Capital Markets regulator view access to the market trades with the capability to monitor participants and intervene by halting trade in cases of violations.
  2. We also provided a fully-fledged SACCO management System complete with in-build accounting module to Green Pastures SACCO, one of the largest and vibrant SACCO’s in the Kingdom of Eswathini..

In Uganda, the Escrow Group deployed and implemented the Central Depository System for AltX, the first alternative stock exchange in Uganda.

In Tanzania, the Escrow Group provides various technologies including workflow management systems; share registry management systems; IPO systems; and online investor management systems.

The Escrow Group implemented a web platform for users to access shareholder information from the web & mobile. The platform was first adopted in 2010 by C&R Registrars in Kenya & subsequently by Centurion Registrars in Nigeria, Corpserve Zimbabwe & Corpserve Zambia.

In Rwanda, the Escrow Group provided the IPO system employed by CDSC Kenya for the Bank of Kigali IPO & other transactions.

In Zambia, the Escrow Group operates a securities registry firm on the Lusaka Stock Exchange.

In Botswana, the Escrow Group provides Share Registry Technology to an operator on the Botswana Stock Exchange.

We have provided share registry systems to Share Registrars and Banks in Malawi and Tanzania for the management of various listed counters trading on the Malawi Stock Exchange and the Dar es Salam Stock Exchange. Our systems in these territories continue hogging the limelight due to their flexibility, scalability and diversity.



Escrow Systems automated the Eswatini (Swaziland Stock Exchange) and deployed its mobile trading platform C-TRADE; in the process integrating the entire capital markets.


Launched C-TRADE the first online and mobile platform of its kind in Africa. This opened real- time capital markets access to all citizens living in and out of the country.


Escrow provided the technology for the Government of Kenya mobile traded retail bond dubbed M-Akiba; the first mobile traded retail bond in the world.


The Escrow Group established the Financial Securities Exchange FINSEC) the first (Alternative Trading Platform) and the only second licensed securities exchange in Zimbabwe.


Escrow provided the technology platform for the Initial Public Offer and self-listing of the Nairobi Securities Exchange.


Escrow deployed securities registry systems to 3 banks in Malawi and one in Tanzania.


In Tanzania, Escrow was the Data Processing Consultant in the TBL second IPO in 2012.


In Rwanda, the Escrow Group provided the IPO system employed by CDSC Kenya for the Bank of Kigali IPO


Africa, The Escrow Group implemented a web platform for users to access shareholder information from the web

Clients and Partners

We have been privileged to serve and partner some of the leading companies in the financial services industry across Africa. We endeavor to continue adding value to every interaction we have with our valued stakeholders. Some of the business organisations that enjoy the benefits of our wide product range and unparalleled service delivery include the following:

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Chief Technology Officer

Sifelani is an Information Technology specialist with over 20 years of experience with Information Systems in the Financial Services sector. Having earned his BBA in Management Information Systems, Enterprise Governance of IT (EGIT), COBIT, CISCO, CDCP(Exin), Postilion, Foundational Payments, many other certifications and currently studying for his MBA. Sifelani has got extensive exposure to projects that include banking systems implementations, payment systems, Data Security and Enterprise Governance of IT. Has working experience in Zimbabwe and Namibia environment where he was Project Manager for various IT projects.
Experience with Mastercard Implementation and postilion switching systems. He was Project Manager – IAP license Application for Modern Transactions (Pvt) Ltd, was Head of ICT for SME Bank Limited in Namibia, held position of Chairperson for Bankers Association of Namibia Information Technology (BAN IT) Sub-Committee, held position of Chairperson for Namibia Payment Clearing House for Cards (PCH Card). He was a member of Payments Association of Namibia (PAN) for the Payment Clearing House (PCH) for cards, Paper and Electronic Funds Transfer (EFT).

Company Secretary and Compliance Officer

Mukayi is a registered legal practitioner with a passion for financial and capital markets. He holds an LLB from the University of South Africa and an LLM from the University of Pretoria. On completion of his LLM, Mukayi worked for DLA Piper Africa in the Corporate, Banking, and Finance Practice groups. Mukayi has been actively and deeply involved in corporate governance work as well as drafting and reviewing transaction documents, regulatory engagements for transactions, conducting legal due diligence on prospective investments, transaction negotiations, and issuance of legal opinions.   Mukayi further holds a Bachelor of Business Administration from the IMM Graduate School and has several years of experience in marketing and business development in various industries such as telecommunications, advertising, and hospitality.

Head of Sales and Marketing

B.Com Entrepreneurship & Business Management (CUT), Digital Marketing (Stellenbosch)

Eliah has gained over seven years’ hands on experience working with progressive Technology and telecommunications companies including Econet Wireless Zimbabwe in the capacity of Product Development, Account Management, Market Research and Brand Management. Possess extensive skills in Marketing Strategy Formulation and Implementation, Business Communications and Brand Management.

Finance and Administration


Mennard heads our Finance and Administration Department. He is in charge of general administration, accounting and financial reporting, supported by over 10 years of experience gained through several roles  that he played in the administration and accounting field prior to joining Corpserve. Mennard is a qualified Chartered Secretary and is currently studying towards an ACCA qualification.

Head – Group Business Development

Bachelor of Commerce (Economics) – UNISA.

Setfree Nhapi is Head of Business Development for the Escrow Group.  Before joining the group, Setfree was the Country Manager of Corpserve  Zambia, the largest registrar (by market share) in Zambia and part of  the Escrow Group. Setfree been exposed to capital markets extensively,  mostly in the Sub Saharan Africa. He has witness numerous capital market transactions in his career to date, where he played significant roles. Before joining Corpserve in 2003, Setfree was working for Renaissance Securities, a Zimbabwean Stockbroking firm, as a back-office manager. His regional experience helped transform the operations of Corpserve Zambia and in his tenure as Country Manager for Corpserve, he successfully clinched several Capital Market transactions deals for Corpserve. His passion for the capital markets resulted in the creation of a strong Corpserve Zambia brand driven by innovative ideas and supported by appropriate technology.

Managing Director – Escrow Systems

BSc in Computer Science; Postilion Payments Certificate and Dell Certifications. Project Management Certificate (PMIZ)

Simbarashe leads a team of professional Microsoft certified developers and an experienced IT support team. He has vast experience in
clearing and settlement messaging and integration using the SWIFT system. Simbarashe is a Systems Analyst, Designer, Developer and Support Specialist with over 10 years’ experience in delivering business solutions to the financial sector. He is a holder of a Bachelor of
Science Degree in Computer Science, a Postilion Payments Certificate and Dell Certifications and is currently studying for a Master of Commerce in Strategic Management and Corporate Governance.

General Manager – FINSEC


Garikayi is the General Manager of the Financial Securities Exchange Pvt Ltd (FINSEC). He joined Corpserve Registrars in 2010 as the Compliance and Performance Management Executive having spent more than 15 years with an international commercial bank. Garikayi is an associate member of the Institute of Bankers of Zimbabwe and a holder of a Bachelor of Commerce degree from the University of South Africa.

Managing Director – Corpserve

AC Diploma in Corporate Management

Paradzai leads the Group Operations, his areas of expertise include Operations and Project Management; Human Resources Management as well as Risk and Compliance Management. Paradzai has worked on various projects including Initial Public Offers, Capitalisation Issues for both listed and non-listed entities. Paradzai is currently studying towards an IAC Diploma in Corporate Management. He has over 20 years’ experience in fields of Operations and Project Management; Human Resources Management as well as Risk and Compliance Management. The majority of his experience gained at Standard Chartered Bank as Operations Manager.

Chief Operating Officer

Bachelor of Science Economics Honours; PB (SA)

Blessing Chipfunde has 17 years of experience in the securities industry and has extensively operated in much of east and southern Africa participating in numerous transactions including public equity and debt issues. Blessing has previously served as Assistant General Manager of Custody and Registrar Services in Kenya and has also served the Escrow Group in various capacities including as Deputy Managing Director of Corpserve Registrars


LLB, University of Nairobi

Laureen is an Advocate of the High Court of Kenya having earned admission to the bar in 2007. Laureen served as Senior Manager, Legal and Compliance at Custody & Registrars Limited (C&R), and is currently Chief Executive Officer of CDSCR. She possesses deep knowledge
in capital markets and has advised clients on such issues as IPOs, Bonus Issues, and Rights Issues etc.


MSc. Finance; MBA; ACCA Dip FM;

Collen Tapfumaneyi is the founder and Group Chief Executive Officer of the Escrow Group comprising Financial Securities Exchange, Corpserve Registrars and Escrow Systems. He was previously CEO of Custody and Registrar Services Limited (Kenya) following the acquisition of the company from Barclays Bank of Kenya. Collen has a long and successful track record in the capital markets and as a provider of capital marketsand financial services solutions in Africa.


Bachelor’s Degree in Economics, Post Graduate Diploma, Master’s Degree in Economics

Michael is an investment banker with broad and extensive experience  in originating and structuring capital markets and financial solutions. A qualified Economist, he has over 20 years experience in government; management consultancy, commercial banking and investment banking. He has held senior positions with Commercial Bank of Africa and was a Senior Consultant for Deloitte and Touché.