Online Reporter
Rutendo Nyeve, [email protected]
ECONET InfraCo, the infrastructure subsidiary of Econet telecommunications company, was officially listed on the Victoria Falls Stock Exchange (VFEX) on Friday, becoming the 19th counter on the US dollar-denominated bourse in a ceremony presided over by Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube.
The listing, which took place at a local hotel in Victoria Falls, marks a significant milestone for Zimbabwe’s capital markets, adding a diversified infrastructure investment vehicle to the exchange’s growing portfolio.
Prof Ncube described the listing as a statement about where Zimbabwe is going, the maturity of capital markets, and the confidence that serious, long-term investors are placing in this nation’s infrastructure story.
He said the listing aligns with the National Development Strategy 2 (2026-2030) and the country’s Vision 2030 goals.
“Infrastructure, as a foundation for all economic activity, is central to this vision. The structure of Econet InfraCo as a dedicated infrastructure holding company aligns perfectly with this national priority,” said Prof Ncube.
“By ring-fencing assets such as telecommunication towers, power infrastructure, and property into a focused vehicle, we are adopting a globally recognised model that attracts specialised infrastructure capital.”
Prof Ncube also drew connections between the listing and the recently launched National Artificial Intelligence Strategy, saying digital ambitions require physical infrastructure.
“AI does not function in the abstract; it lives in hyper-scale data centres and travels on high-speed fibre-optic networks, requiring massive and reliable power supplies,” he said.
Victoria Falls Stock Exchange chairperson, Ms Florence Jambwa, highlighted the significance of the listing for the VFEX, which has grown from a handful of counters since its establishment in 2020 to now 19 listings within six years.
“The listing of Econet InfraCo is particularly significant because of its structure and the opportunities it unlocks for investors.
“By ring-fencing high-quality infrastructure assets into a dedicated investment vehicle, InfraCo provides investors with direct exposure to stable, long-term, income-generating assets,” she said.
Mrs Jambwa said the VFEX daily turnover now averages over US$350 000, with market capitalisation standing at US$2,8 billion, figures expected to grow significantly with the new listing.
The VFEX Direct platform now has over 7 800 active retail accounts.
Econet InfraCo board chairman Mr Godfrey Gomwe outlined the company’s three-pronged value proposition —
TowerCo providing stable cash flows, PowerCo driving margin expansion through energy optimisation, and PropertyCo unlocking value from strategic real assets.
“This is not a speculative growth story. We are not here raising capital to figure out a business model, nor are we building from scratch. Econet InfraCo is already a platform at scale,” said Mr Gomwe.
He announced that as part of the PropertyCo portfolio, the company is advancing the Victoria Falls Private Residences development, featuring luxury villas in the resort city.
“We offer our investors and our nation a very simple promise: Yield today. Growth tomorrow. Value over time,” he said.
Transaction advisors included TN Financial Services, Bethel Equities, Mtetwa and Nyambirai, Fincent Advisory, BDO Chartered Accountants, TN Cybertech Bank, and First Transfer Secretaries.
