Zimbabwe: Vfex to Host Global Roadshows to Lure Investors

The Victoria Falls Stock Exchange (VFEX) will soon embark on a global tour of marketing the bourse and the listed companies as part of efforts to lure foreign investors, 263Chat Business has learnt.

The VFEX is a foreign currency denominated exchange located in the resort city of Victoria Falls that has been tipped to become a regional offshore financial services center.

However, since its launch in October last year, the bourse is yet to register more than one company, with SeedCo being the sole entity listed to date.

Speaking at a virtual VFEX Mining Masterclass this morning, VFEX chief executive officer, Justin Bgoni said there were talks with government to go on a global tour to market the stock exchange.

“We want to market the Exchange. We are thinking of doing roadshows, going around the world and showcasing the stock exchange and the listed companies,” said Bgoni.

Bgoni said starting a stock exchange is an uphill task given the high risks associated with it hence the need for local investors and companies to lead the way in listings.

“We need participation of local investors. It’s difficult to attract foreign investors when local are not involved,”

“We are talking to quite a few potential listings. There are three types of people we are talking to< people who want to raise equity, people who want to raise debt on the market and people who want to raise commodities,” said Bgoni.

A number of incentives have been put in place to attract investors to the VFEX which includes zero capital gains tax and relatively lower listing fees among others.