The government is set to launch the much-anticipated Victoria Falls Stock Exchange (VFEX) in a move to attract capital into the economy.
The resort town will be turned into a competitive global financial hub to which Finance and Economic Development Minister Professor Mthuli Ncube said the establishment of the bourse is in line with the Zimbabwe is Open for Business Mantra.
“The proposed VFSE as subsidiary of ZSE is meant to support the mantra Zimbabwe Is Open For Business and drive FDI especially into mining sector. We envisage that global companies will list on the VFEX and the prices will be quoted in hard currency, Prof. Mthuli Ncube said.
The soon to be launched Victoria Falls Stock Exchange (VFEX) will become the Zimbabwe’s second bourse after the Zimbabwe Stock Exchange (ZSE) and will have the prices quoted in hard currency.
The exchange which is a subsidiary of the ZSE will also be managed by the Zimbabwe Stock Exchange.
According to Treasury, the Victoria Falls Stock Exchange is expected to compete with other global exchanges which offer similar services such as the Abu Dhabi Securities Exchange, Dubai Financial Market and Botswana Stock Exchange.
