Online Reporter
Rutendo Nyeve,Victoria Falls Bureau
The Eagle Real Estate Investment Trust (REIT) on Friday became the first REIT to list on the Victoria Falls Stock Exchange (VFEX).
This development is poised to generate funds for two major infrastructure projects, Mazowe Walk and Victoria Falls Eagle Heights, marking a strategic shift towards leveraging offshore capital to support local infrastructure development.
The REIT was listed by the Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube at a ceremony held in Victoria Falls.
Speaking during the listing ceremony, Professor Ncube said while Zimbabwe has previously witnessed the listing of other REITs on the Zimbabwe Stock Exchange (ZSE), the listing marks a historic first for the VFEX.
“It signifies a strategic shift towards leveraging offshore capital for local infrastructure development and sets a precedent for future REIT listings on the VFEX,” said Prof Ncube.
He said the listing of a REIT, an innovative asset class, is evidence of continued growth and deepening of capital markets and the maturing nature of the country’s financial sector.
“The listing is aligned with our drive to mobilise domestic and international resources towards infrastructure development and economic diversification.
Furthermore, the listing signals Zimbabwe’s readiness to align with global trends in property securitisation and investment diversification,” said Prof Ncube.
