Mining firms show growing appetite to list on VFEX

Nqobile Bhebhe

THERE is a growing appetite from mining firms to list on the Victoria Falls Stock Exchange (VFEX), with the bourse positioning itself to become one of the biggest on the continent, an official has said.

Addressing delegates at the ongoing Chartered Governance Institute summer school in Bulawayo, VFEX Head of Markets, Mr Robert Mubaiwa said the exchange was attracting quality listings and generating strong interest from mining houses seeking new capital.

“If you see the information that we are sharing with the market, there is more appetite for new funds as mining houses are showing keen interest coming to the market or to list with us.

“We have seen companies raising significant amounts of money and I have deliberately omitted the amounts to generate a better conversation between ourselves and the institute,” said Mr Mubaiwa.

Established in October 2020, VFEX is the only exchange in Africa trading exclusively in United States dollars. It was launched by Government as a pioneer offshore financial services centre to attract global investment.

Since inception, the bourse has attracted listings from diverse sectors including mining, financial services, tourism, hospitality and clothing.

Mr Mubaiwa noted that the exchange’s credibility has been strengthened by efficient settlement systems.

“Since 2020, every trade that has gone through the stock exchange has been settled on time without delay. That is a confidence booster,” he said.

The VFEX, a US dollar-denominated platform, continues to evolve through new listings and product development, positioning itself as a preferred capital-raising avenue for both local and international investors.